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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they aren't golden opportunities, your support/resistance are not correctly drawn
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jmtbernardo AlexandreFF
Those are fibonacci levels,
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jmtbernardo AlexandreFF
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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Maybe it's to soon to buy...just saying :)
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RGAH RGAH
*too
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Perhaps that is true, you can wait.
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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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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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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
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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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
Good luck, your gone need it.
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Could be if is not to early
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Excellent Analysis
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jmtbernardo Audacity618
Thank you sir
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jmtbernardo QuantitativeExhaustion
Thanks :)
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For short-term traders setup
snapshot
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Alternative fibonacci levels.
snapshot
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It worked out beautifully the short-term setup.
snapshot
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It has been while, but this chart still effective =)
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