SPY SPX500 Still on track! Will the Fed raise rates?
Today is an update from last weeks thoughts. Spy looks to be on track towards the Pesky Gap! set back on October 10 2018. This was a major drop on the open, and of course gaped down strongly. When we see a move like that, the high of the gap day candle usually provides a strong resistance on the retracement back up such as what we are seeing here in March 2019. We are getting close!
Of further interest, we know that the FED speaks on Wednesday. Will they will raise rates? - Nah! The T-bills don't support it! So this could provide a buy the "rumor and sell the news" moment for us. Look for volatility and whipsaws! -heading into the sell zone.
Also, for months now, I've been watching for a turning point on the Spring Equinox.. March 20-21 2019. This lines up with other major turns in the market place as shown in other charts of Sept 22 (Autumnal equinox) 2019, Dec 21 (Winter solstice), 2019. W.D. Gann talked a lot about these dates. Lets see if we get another major turn here in the next few days.
I am carefully watching the sell zone shown in red. We are getting close to this area and this lines up with many points of harmonic completion. The shading of the Butterfly and Cypher pattern's completion points, mysteriously lines up with the Pesky Gap! zone. Hmmm... Getting ready to short!
Until next time,
Old Fart
Of further interest, we know that the FED speaks on Wednesday. Will they will raise rates? - Nah! The T-bills don't support it! So this could provide a buy the "rumor and sell the news" moment for us. Look for volatility and whipsaws! -heading into the sell zone.
Also, for months now, I've been watching for a turning point on the Spring Equinox.. March 20-21 2019. This lines up with other major turns in the market place as shown in other charts of Sept 22 (Autumnal equinox) 2019, Dec 21 (Winter solstice), 2019. W.D. Gann talked a lot about these dates. Lets see if we get another major turn here in the next few days.
I am carefully watching the sell zone shown in red. We are getting close to this area and this lines up with many points of harmonic completion. The shading of the Butterfly and Cypher pattern's completion points, mysteriously lines up with the Pesky Gap! zone. Hmmm... Getting ready to short!
Until next time,
Old Fart