Bullish Bat and Daily Outside Bar. Two different daily patterns the suggest that maybe we are heading for reversal in $SPX... Maybe.. The Outside Bar will be triggered only above 1940 so perhaps you can seek smaller time frames for better timing for your entry. The Bat pattern's PRZ starts near 1900. The stop loss should be at least below 1870 For the brave...
This has been an incredible week for the markets in general and SPY was certainly not left out. After the steep declines that we saw last week, I think traders will be looking for some relief from the downward pressure. That being said, we might see some accumulation at the start of the week and perhaps even a bounce back up to $194.00 on Monday or Tuesday. ...
Yesterday we noted that Monday's low would be an important line in the sand along with the 200dma and the September high of 108.73. So far this morning all of those levels have been lost. If QQQ is unable to recover 108.73 and the 200dma, I would look for those former levels of support to begin turning into resistance.
After the brief bounce we saw today, it seemed like buyers just were not able to muster enough momentum to derail SPY's downward move back below $200.00. As of 11:38 PM ET, /ES minis were trading 17.50 points down which could spell trouble for SPY with a significant gap downward Wednesday morning. If SPY opens below $200.00, I think the ~194.00 target is pretty...
An important line in the sand for QQQ is 108.73. It marks both the 200dma as well as September's high. As noted yesterday, this is a level of resistance that later turned into support. It was tested on both Monday and Tuesday and so far it has held. Both 108.73 as well as Monday's low of 108.12 are important levels to watch. If 108.12 is breached, I think...
Wow did that happen fast! I had assumed SPY would take a moderately aggressive slide from last Thursday's close, but it looks like China and the Shanghai Composite (XGYO) really shoved it over the edge. With the large gap down at the open and sellers controlling the market for most of the morning, it looked like SPY was doomed to close under $200.00. However,...
On 9/17 QQQ established 108.73 as resistance when it reversed off this level. At the time it closely coincided with the 50dma. After breaking through that level on 10/22, 108.73 has since acted as a support zone. Today is an important test of that support and its one we should keep on our radars. Furthermore, should QQQ successfully hold above 108.73 by the...
First, I hope everyone here on TradingView had a Happy New Year! My first post of the year is a very bearish one for SPY with the week ahead looking at selloffs to retest the $200.00 level. The trading during the shortened New Years week was lower in volume, but still indicative of an overall bearish sentiment in the market. My forecast is that Monday or...
Waiting to Get in on a BEAR CALL 114/115 JAN 16 expiration.
I like that small gap down, and i like the resistance confirming sideways market.
As an alternative to the IWM play (posted below), here's a QQQ setup: Feb 12 103.5/116.5 short strangle POP%: 75% Max Profit: 1.55/contract BPE: Undefined Break Evens: 101.95/118.05
I am starting to get a little nervous after re-charting the impressive gains made by $SPY today. In my last post on Sunday December 27th, I thought SPY was going to continue its downward leg to fill the gap between ~$204.75 and $203.75, which it very nearly did on Monday. However, it quickly erased its early losses and formed a green hammer pattern by the close....
Small HS is formed during 2015. 2016 is set to be an important year whether a larger HS is going to be formed. If it does, it is not going to look good in the following years. $100 is an important threshold to watch.
#SPY #QQQ #IWM #DIA avg. vs.#NG_F #CL_F avg. Note divergence and trend flow. Cycle 'revergence' initiating.
$NDX $NQ_F $COMPQ $TQQQ $SQQQ $IBB
broke resistance $NDX $COMPQ $TQQQ $SQQQ $NQ_F
$NDX $NQ_F $COMPQ $TQQQ $SQQQ