nmike
Long

SPY weekly CLONING analysis

AMEX:SPY   SPDR S&P 500 ETF
881 17 10
I isolated 2 major swings and a smaller reference channel C swing and then I CLONED them. As you can see SPY             is setting at just about all 3 CLONES top boundaries. It will be interesting to see if a confluence of forward CLONES top boundaries will be hit in the future. I will start adding more CLONES if SPY             can clear the red line resistance and all 3 CLONES top boundaries. If this is indeed the top and SPY             begins a prolonged correction we could see SPY             fall to bottom of CLONE C3 support as 1st target.
Hi nmike! I'm fascinated by your CLONE-technique - it's really adds up On the other hand I find it difficult to work with SPY due to the difference of SP500. It seems like they not move alongside each other. Does it make a difference.... hmmm? I agree there is a symmetri in it all to be watched each time a chart is pulled up.
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nmike MOD WallStScalper
3 years ago
SPX version CLONES
snapshot
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WallStScalper PRO nmike
3 years ago
Wow! Yes! It adds up also here. I guess that if you took the blue box and placed it from 667 low and up. we'll hit 1775. That's also more or less my target for the 5th wave up. ;)
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alivsm
3 years ago
1775
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nmike MOD
3 years ago
just above minor trend line support
snapshot
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StealthTrader nmike
3 years ago
found support near 50% of upper clone
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nmike MOD StealthTrader
3 years ago
price back above short term red trend line
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nmike MOD
3 years ago
>>>> likely to test confluence clone and or red trend line resistance
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StealthTrader nmike
3 years ago
excellent call
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nmike MOD
3 years ago
....... 3 resistance points points broken last week. If SPY closes above this CLONE trend line this month (Aug 2013) here is the next likely target
SPY monthly update
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nmike MOD
3 years ago
snapshot
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KevinT nmike
3 years ago
I guess it's on the support line now?
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nmike MOD KevinT
3 years ago
@KevinT, since this is a weekly frame, we should wait til Friday to see what candle pattern forms at this confluence of resistance or support area
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nmike MOD
3 years ago
>>>> interesting price action at key resistanceS last few weeks
snapshot
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nmike MOD
3 years ago
>>>>>> CLONE CONFLUENCE RESISTANCE playing out well.
snapshot
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nmike MOD
2 years ago
......top boundary of C4 clone "HIT". Place another blue clone on top of C4 . Next near term target is about half way of new clone, about 212
Reply
Keeps going and not much in the way
Reply
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