Daily view shows DJIA still ready for correction to continue downtrend. RSI, Fisher Transform, and Filter Dots all confirm price action just began downtrend. We will either go to First Stop resistance, or continue to main wedge resistance (slightly below). After this we need to watch for further breakdown possibility, or uptrend to 30,000. I feel that DJIA 30,000...
Watching SPY and VIXY recently and the inverse relationship between them. VIXY is at all time lows, RSI bottomed out. SPY is at all time highs, RSI topped out. Perfect time to do a Bullish Put Credit Spread on VIXY - collect the premium. $340 risk, $2500 reward. Then buy SPY put 30 days out. $485 risk, unlimited payout (but realistically $775-$1500) We should see...
Daily chart shows RSI turned down crossing trendline. Fisher Transform flipped bearish. Filter Dots confirm bearish downtrend has stared. In my opinion, this correction should last at least a week up to one month (Christmas). Possibly greater correction if determined in December. I will update a 30Min Chart for Part 2 of 2. Thank you for liking, commenting,...
I am overall long MSFT, but nothing goes up forever. MSFT is becoming overbought on the Daily, as much of the market. All red boxes are gaps to fill. Price may stop at $134 first support (filling top 2 gaps). Watch to exit or price to continue to drop for Final Exit. The bottom gap may be filled quickly, as the price increase was quick. Quick gap up equals...
30Min view shows falling wedge pattern (which is normally bullish). This indicates price could either break down at 3095 (tip of falling wedge), OR price could rebound at 3095 to resistance at 3130. A bounce to 3130 would be another entry point to short or buy a Put in my opinion. All Daily indicators on SPY are still showing bearish reversal incoming. RSI...
VIXY and VIX derivatives are ready to spike. RSI, MACD, Fisher Transform, and Filter Dots all show reversal coming in next 5 business days. There are 4 gaps to fill, indicating a possible 44% positive correction to around $20 for VIXY. The reversal period is short here. I believe it may last until Christmas. Going to green curved line (Gaussian Channel midline)...
This mini channel is heading towards another trend line resistance.....I unfortunately have bearish holdings.... so definitely biased here. What do yall think?
SPY - RSI at open is over 75. If we get to RSI 86, this will be same as December 2018 selloff of 20%. MACD shows exhaustion and bullish trend ending. Fisher Transform shows red dash line 3.79 level unable to be broken multiple times. Filter dots show long bullish trend cannot continue higher and close red/green lines mean downturn can happen quick. Maximum top is...
Posted in conjunction with my other chart "QQQ - Outter Space -Can DJIA, SPY, and QQQ all be ready to fail?" Daily view shows pattern is at short term failure. Longer term pattern failure, of ascending wedge, looks to come around May 2020. Need to watch this after next correction to see if pattern failure occurs. I feel we will rebound into next year with a major...
Pink channel shows multiple points of contact. Channel is exhausted. Blue wedge shows long term pattern, ascending wedge, which is also exhausted. We are RSI overbought, price overbought, and unknown economic and world issues going into holidays. We should see a 7% correction or more here in my opinion. Although the top of the pink channel appears to be hanging...
We are setup to fail on SPY. Overbought RSI, consecutive ATH's...but we have more room to run. $319 seems to be ultimate top before we are in the RSI 90+ zone. We can look to enter positions for Puts or shorts with 30 day time horizon once RSI breaks trend. Once RSI breaks trend, price can lag so account for possible time when purchasing options. Thank you for...
Do you see the repeating pattern??? What I see - So this is the Outter Space view where we see this massive wedge building since 2007. By August 2021 we are either going to go off the roadmap or there will be an epic meltdown. My guess is that $13 Trillion in sovereign debt and QE will eventually be the karma for the meltdown. Let me know what you think or what...
Bearish because - On Nov. 15th we either break a 12 year resistance line with 6 points of contact or go to even higher all time highs. If that is not the definition of euphoria, I don't know what is. RSI Overbought. Wycoff Trend Overbought. I have closed my Put position to limit loses and re-enter because this dumpster fire is keeps going up. Any significant...
Looking soft here.....
I am continuing my short position in SPY. We are topped out again at ATH and RSI on daily is almost 70. I will continue to monitor, but I still feel we are going down on SPY. Thank you for liking, commenting, throwing up a chart, following, or viewing. I am not a financial advisor. My comments and reviews are based on what I do with my personal...
BEARISH - Divergence on 4HR Candles. Headed down. BEARISH - 4HR EMA Cross. Got pushed back today with fake pump. Cannot create buyers. BEARISH - Evening Star on Daily. Anytime I see this at top of SPY peak, downturn is almost guaranteed. www.chart-formations.com Thank you for liking, commenting, throwing up a chart, following, or viewing. I am not a...
Gaussian Channel is riding the Rounded Top white line as predicted. Minor changes to Gaussian Channel predictions show that downtrend is INTACT. Below full candle open and close below 3017 on SPX and we get Bearish on Daily. www.marketwatch.com “There are not a lot of things to push that higher,” Dalio said “Money is free for those who are creditworthy because...