InTheMoney Stocks

S&P Bearish Intra-Day Pattern: The Pros & Cons

AMEX:SPY   SPDR S&P 500 ETF
231 6 1
The SPDR S&P 500             ETF Trust (NYSEARCA:SPY) has a great intra-day bearish pattern . While awesome, can and will it play out? The SPDR S&P 500             ETF Trust is attempting to fall as you can see from the chart below. However, one of the cons is that the time of day is lunch. Lunch is notorious for light volume which makes bearish patterns extremely hard to play out. While the pattern is great and even has a time count, the odds are probably stacked against the SPDR S&P 500             ETF Trust that a big fall will occur. On the off chance it does, it would tell a bigger tale of weakness in the market that would catch attention.

Gareth Soloway
Chief Market Strategist
http://www.InTheMoneyStocks.com
A normal corrective move - abc with the EW or ABCD within harmonic pattern. Here the SPXU: Pattern about to have panned out
snapshot
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WallStScalper PRO WallStScalper
ES could stop its retrace here Looks like a normal wave 4 retrace so still HH to follow http://gyazo.com/bb55da76026dbef9a6ab6c67693bf520
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InTheMoney Stocks WallStScalper
Hi BLawrence, nice analysis. But our chart above was just for a day trade, which played out for a nice little short over the lunch hour. Now back to the typical movement lol. Thanks
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WallStScalper PRO InTheMoney Stocks
Thanks for the kind words... You had also stated at top "INTRA-DAY PATTERN" - so just saying ....yes we are in sync ;)
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UP TO 2000, NEXT 2130 - 2150
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Fundamentals are so bullish, why fight it? I lost so many long opportunities when I listened to "Sell in May and go away". I'm done fighting this strong trend and just going to listen to the central bankers instructions to go long and make a fortune! LOL!
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