BATS:SPY   SPDR S&P 500 ETF
234 4 2
SPY             about to give fresh buy sig             with a 13/34 EMA bullish cross. Surprised that it didn't happen today. Those EMA's should have a bullish cross tomorrow morning unless the employment #'s are really bad. I think the numbers won't matter unless they're really bad.

Next and very important, and per my method, the 200EMA must turn up to confirm that we have morphed from a down trending market to an up trending market.

It's going to be very important that the rising trend marked with the red line on this chart is not breached tomorrow morning. As long as that does not happen, then expect new highs for Friday and into next week.

GL
stockSMASH
2 years ago
hey... told ya that C and the run up on the vix stuff gave clues to the bounce. I think that spx has a hard time against the 100 day sma wall. my guess is we bounce down off of it. Not that we just go straight down, but I think this is not the super rally that people are wanting. I think it is a bull trap.
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CurtisM stockSMASH
2 years ago
C looked like crap this morning, but hard to argue with today's big move so good call on that. In the meantime, $SPX sitting right below the 100MA so unless we get bad data tomorrow morning, then likely to blow through there. Assuming markets like or ignore tomorrow's data, then have to watch $SPX 1798. That is the C point in what remains an A-B-C down. If we should take that out, especially on a closing basis, sometime next week, then the A-B-C structure is voided and we could be looking at the beginnings of a new rising trend. Lot of people betting on those numbers tomorrow morning so we'll have to wait and see just how the market deals with them once they come out.

GL
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Jgross2112
2 years ago
nice!
fisher transform check this out if you want- cut and paste--------> http://iticsoftware.com/fisher-transform
thanks for the heads up CurtisM!
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stockSMASH
2 years ago
Thank you for your thoughts and analysis. As of 2am EST, you are right.... as ES has blown it's 100, the morning is young, but my XIV will be happy. I do believe that this is just a retest of the broken trendline, and we have more down to come. Thank you again for taking time to reply and please keep me posted on anything you see. like at 13/34 cross confirmation
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