whiteknightmoving
Long

SPY- Monte Hall says "come on down!"

AMEX:SPY   SPDR S&P 500 ETF TRUST
Just a bit lower on our price target adjusted from yesterday. Although yesterday we were looking for a gap down retracement. We got a "gap and crap" up at the open. This makes a small a wave up. However the price is selling back down into our buy zone nicely. This should be marked as a small wave b. A bit lower and we can go and buy in the green zone shown and go long up to the sell zone above making a small wave c and complete wave 2 in the bigger bearish direction down.
As the old TV game show host used to say to game contestants ... "come on down!" on the "Price Is Right" show.

Comments

hate to bug you....what is the BASIC components of your charting....for picking tops/bottoms?
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@notmyname, I use Elliott wave for a frame work, Then I use harmonics for corrective waves, then break those down again into smaller elliott and harmonics. Use rsi mostly, sometimes other indicaters
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notmyname whiteknightmoving
@whiteknightmoving, trendlines? when you initiate a new chart - what's the first, second, and third things you set up/use?
sorry for being so bold/curious.....thank you!
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@notmyname, long term channel lines first. I use dividend adjusted, log charts. then break it down as posted earlier
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thanks - I see the chart now.
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