jmtbernardo
Long

SPY Opportunity knocking on the door!!

BATS:SPY   SPDR S&P 500 ETF
692 22 6
As swing trader, these levels are golden opportunities to buy. As you can see, every time we approach this support, the market bounces back. Remember, the best time to buy is when most people are bearish .

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jmtbernardo
SPY S&P500
jmtbernardo about SPY 2 years ago
AlexandreFF
3 years ago
they aren't golden opportunities, your support/resistance are not correctly drawn
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jmtbernardo AlexandreFF
3 years ago
Those are fibonacci levels,
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jmtbernardo AlexandreFF
3 years ago
If you talking about the parallel lines, those are valid support and resistance, because there at least three touches with adequate distance.
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RGAH
3 years ago
Maybe it's to soon to buy...just saying :)
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RGAH RGAH
3 years ago
*too
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jmtbernardo RGAH
3 years ago
Perhaps that is true, you can wait.
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zobtraffic RGAH
3 years ago
I think your are right on. Accounts on margin are now exceeding 07'. I'm out till I see a panic sell for margin calls. 200 moving average at least.
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JigneshRathod
3 years ago
it can be true but if it breaks and drops further, its huge down trend...i would say just wait for 2-4 days to see the u-turn signal...no signal, no buy..if it drops, next support level is way down...
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BudWiser PRO
3 years ago
As a fellow swing trader I think your spot on. i think $SPY $QQQ and etc... should get an oversold bounce up soon and maybe even tomorrow. For the very short term I will be looking for an opportunity to purchase $QQQ and $SPY calls, however, I am thinking that a 10% correction is in the cards for the market.
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jmtbernardo BudWiser
3 years ago
Thank you. For now I don't see 10% correction, perhaps in the future.
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I'm looking for the 200 MA to be broken .. might buy soon after
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stockSMASH
3 years ago
Wall Street loves to condition people into this support buy syndrome and has done it well in 2013. Spy will bust under 150 ma and leave you crying in your coffee, I expect a small bounce then a sell-off that will make your eyes water.
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jmtbernardo stockSMASH
3 years ago
Good luck, your gone need it.
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dib309mar
3 years ago
Could be if is not to early
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Audacity618
3 years ago
Excellent Analysis
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jmtbernardo Audacity618
3 years ago
Thank you sir
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Great Job!
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jmtbernardo QuantitativeExhaustion
3 years ago
Thanks :)
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jmtbernardo
3 years ago
For short-term traders setup
snapshot
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jmtbernardo
3 years ago
Alternative fibonacci levels.
snapshot
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jmtbernardo
3 years ago
It worked out beautifully the short-term setup.
snapshot
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jmtbernardo
2 years ago
It has been while, but this chart still effective =)
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