Multitimeframeanalysis
SPY over extended short... very risky short entry discussedSellers are in control on the daily timeframe. Buyers are taking some control on intraday - which is a good thing because SPY is overextended to the short side at the moment. Possible short entry presented. Very risky, I'm sitting this one out.
SPY multi-timeframe analysis and targetsSPY is in a downtrend, and that is the path of least resistance (as Brian Shannon likes to say). My trade bias is still short, but as of the time of this video it looks likely that there is some support building intraday, and the market could go sideways or up to challenge resistance before continuing down. Targets are presented in the video.
Analysis of DIA, QQQ, SPY, VIXYLong term markets are still long, but price action and VWAP analysis is showing weakness today and yesterday which may roll over into a further correction down in price. The VIX is a little less bearish about market direction on an intraday basis.
My bias is down or sideways. There is an increasing amount of resistance to the upside and not a lot of base building to move through up through the resistance IMO.