BEI

SPY - Day trading tecniques

AMEX:SPY   SPDR S&P 500 ETF
471 5 2
This is an example of my day trading techniques that i recently applied to long term charts since i noticed they worked a lot with indexes and large capitalization stocks . Red is sell zone and grey is comfort zone, next reversal area at 175, after that 200...but i'll relate to 175 since 200 technically hard to believe...yet.

From this point of view, a lot of indexes still has some way to go, IWM             110, QQQ             80 and XLF             22.90 but still face all a short term overbought levels. IWM             and QQQ             the most. it's not so simple, there is some rules to follow but this basically says to sell on red zones on short term and look for big correction ONLY when SPY             hits and reacts to 175 as resistance...OR as long as it doesn't go under grey zone this could go to 175, and big maybe 200. EVEN IF i believe short term overbought (BBands on weekly) will make prices go down again and come back for 175 test (and because you don't break orange channel) and without 175 this will not correct, based on this theory. Moreover, the theory overbought on short term but still not on long term reversal levels can be seen on other indexes too.

This suggest we are in #5 wave on EW cycle, not so surprising considering length of this last rally
BEI
3 years ago
IWM
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BEI BEI
3 years ago
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snapshot
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BEI
3 years ago
As predicted, for now, orange trendline is strong resistance triggering short term sell action, if this levels holds looking to see at least MA34 daily to weekly BB- test depending on overall markets and VIX
snapshot
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BEI
3 years ago
Who said prices never do same thing twice??

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BEI
3 years ago
hitting to upper trendline of the channel again...looking for this or this takes off for Jupiter soon
SPY update
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