Since our last published chart for SPY the Intraday Short A has reached the 1st target. Two of the identified Longs have had noticable counter-trend reactions. Even the last failed long had a reaction, (note the price action inside the oval area) as the daytrade aggressive longs tried to support price but were overwhelmd by short sellers. A 4 hr chart is published here www.tradingview.com/v/pMocN3Uq/ amnd here www.tradingview.com/v/DxRZr0dV/.
The Short Term Long has been agressively sold and has technically failed. SPYis famous for pushing through failure levels by a few cents, but this is about 20 cents. Will it reach its' targets?
At this moment, our anlysis shows that it is more likely that the 2nd target of the Intraday Short A will reach its' target.
Yesterday's Intraday Short did in fact reach the entry price even though it does not show on the chart. On our trading platform the trade triggered and it shows a volume of more than 1 million. We are not sure why the data is incomplete on tradingview.
At the close price reached the next Intraday Long and we would not be surprised if the market gapped up if there is any positive news from anywhere. We have stated in other published analysis that the 1st target is normally an area of profit taking with a pullback before resuming to the 2nd target.
We have identified the next ST Short if price does in fact rise and that is close to the 4th target of the Intraday Long. There is another intraday short before the ST Short level but there is no way to show it without cluttering the chart. IF time permits we will publish a chart that identifies this level.
As a side note we continue to experience strange behavior of some of our published charts. We are also unable to publish charts at times but have no idea why. The published charts seem to be squashed together making it difficult to understand what is being shown. It is very frustrating at this point. (We attempted to publish this yesterday). If anyone knows how to solve these problems please let us know. It will be much appreciated.
The Short Term Long has been agressively sold and has technically failed. SPYis famous for pushing through failure levels by a few cents, but this is about 20 cents. Will it reach its' targets?
At this moment, our anlysis shows that it is more likely that the 2nd target of the Intraday Short A will reach its' target.
Yesterday's Intraday Short did in fact reach the entry price even though it does not show on the chart. On our trading platform the trade triggered and it shows a volume of more than 1 million. We are not sure why the data is incomplete on tradingview.
At the close price reached the next Intraday Long and we would not be surprised if the market gapped up if there is any positive news from anywhere. We have stated in other published analysis that the 1st target is normally an area of profit taking with a pullback before resuming to the 2nd target.
We have identified the next ST Short if price does in fact rise and that is close to the 4th target of the Intraday Long. There is another intraday short before the ST Short level but there is no way to show it without cluttering the chart. IF time permits we will publish a chart that identifies this level.
As a side note we continue to experience strange behavior of some of our published charts. We are also unable to publish charts at times but have no idea why. The published charts seem to be squashed together making it difficult to understand what is being shown. It is very frustrating at this point. (We attempted to publish this yesterday). If anyone knows how to solve these problems please let us know. It will be much appreciated.