SPY: Probabilities Waveservation K-DTF 18-22 Weekly Outlook
See the waves for 2 most probable scenario
Next week on SPY:
First, we have the 50 MA bullish crossover the 200 MA with price trading above 50, 100, 200 MA respectively. The overall sentiment is bullish-sideways. We'd want to see a break above 0.886 level to add into the bullish momentum from 24th Dec 2018. Bulls, Pay close attention to 200 MA as we expecting a bounce from a shorter-term perspective. Bears, look for the break below 200 DMA or wait at 300 area where wave 5 is set to meet at the Megaphone Resistance. We could see some key areas at play this week. Some key areas to pay close attention are marked on the chart.
Traders, Let's hope we don't see a flat market. Looks like the pullback is corrected with a 335 structure, however, technically speaking we are still bearish below the megaphone resistance and neutral from 280 to 285. Expecting 3 up days and 2 down days next week. Worse that can happen is a month of sideways consolidation.
Equities on the watch for my trades: ABBV****, TXN**, FB*, GRUB, BABA*, AAPL, NFLX, SPY*, BURL**, ULTA, AKAM, TSLA***, V*, DIS*, MRK***, MO
Next week on SPY:
First, we have the 50 MA bullish crossover the 200 MA with price trading above 50, 100, 200 MA respectively. The overall sentiment is bullish-sideways. We'd want to see a break above 0.886 level to add into the bullish momentum from 24th Dec 2018. Bulls, Pay close attention to 200 MA as we expecting a bounce from a shorter-term perspective. Bears, look for the break below 200 DMA or wait at 300 area where wave 5 is set to meet at the Megaphone Resistance. We could see some key areas at play this week. Some key areas to pay close attention are marked on the chart.
Traders, Let's hope we don't see a flat market. Looks like the pullback is corrected with a 335 structure, however, technically speaking we are still bearish below the megaphone resistance and neutral from 280 to 285. Expecting 3 up days and 2 down days next week. Worse that can happen is a month of sideways consolidation.
Equities on the watch for my trades: ABBV****, TXN**, FB*, GRUB, BABA*, AAPL, NFLX, SPY*, BURL**, ULTA, AKAM, TSLA***, V*, DIS*, MRK***, MO
Comment:
Don't short this UPDATE:
Comment:
I'll add something here. Daily MA50 and MA200 might do a golden cross soon.
