SPY - RSI at open is over 75. If we get to RSI 86, this will be same as December 2018 selloff of 20%.
MACD shows exhaustion and bullish trend ending.
Fisher Transform shows red dash line 3.79 level unable to be broken multiple times.
Filter dots show long bullish trend cannot continue higher and close red/green lines mean downturn can happen quick.
Maximum top is $320, but I doubt we go over $315. No momentum left.
Charts are so overbought at this point a pullback is imminent.
3 Gaps to Fill down on Daily chart in last 30 days. This would be minimum correction down to $292.
Farther down there are gaps down to $99 (although we may not get this low ever).
The $99 gap is from 2016 which makes it still in play to be filled possibly.
Upcoming Events:
Fed Rate Meeting - Nothing gonna happen here. www.cmegroup.com/tra...ntdown-to-fomc.html/
Tariff's - Dec. 15 may go into effect. If this happens, or no China deal, market will turn down.
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY.
Short SPY and AAPL.
MACD shows exhaustion and bullish trend ending.
Fisher Transform shows red dash line 3.79 level unable to be broken multiple times.
Filter dots show long bullish trend cannot continue higher and close red/green lines mean downturn can happen quick.
Maximum top is $320, but I doubt we go over $315. No momentum left.
Charts are so overbought at this point a pullback is imminent.
3 Gaps to Fill down on Daily chart in last 30 days. This would be minimum correction down to $292.
Farther down there are gaps down to $99 (although we may not get this low ever).
The $99 gap is from 2016 which makes it still in play to be filled possibly.
Upcoming Events:
Fed Rate Meeting - Nothing gonna happen here. www.cmegroup.com/tra...ntdown-to-fomc.html/
Tariff's - Dec. 15 may go into effect. If this happens, or no China deal, market will turn down.
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY.
Short SPY and AAPL.