Evening Update for Watch Tomorrow Rounded top and incoming 4HR EMA Bearish Cross (around 1pm Nov. 6) will confirm downtrend. SPX at 3064 or below and Bearish EMA Cross develops causing further downtrend. SPX at 2896 or less and Bearish Daily Gaussian Channel develops. Rounded Top – “Technical analysis of price information suggests that a rounding top may form...
Looks like we may get an Evening Star on SPX today. At close of market, it was exactly like ThePatternSite but price going down still. Confirmation at close of day tomorrow with a candle that opens below the prior candle, and closes at least midway down the body of the day prior (Like Nov. 4th). “The evening star candlestick acts in theory as it does in reality,...
Little more of a drop coming then this pennant could take off. Would be great timing to see the S&P sell off soon and flood GDX. Looking for a short short on GDX and then collect on it to short SPY.
The way that the Gaussian Channels stack on top of each other with such close price proximity says: 1- Higher we go, more likely we are to go down. Channels get closer as we go up, but CANNOT overlap like EMA/SMA's. 2 - Channel midlines so close together, a price drop of $10 or $20 in SPY and all them turn red instantly. Once these short time-frame midlines go,...
4HR View shows 8/21EMA bearish cross incoming. If we get below $303, this will confirm Bearish cross to continue downtrend. If we get below $293, this will confirm Bearish trend on 4HR for continuation. :) If we get below $290, this will confirm Bearish trend on the Daily. Price will be outside Gaussian Channel AND outside the pink channel. LANDSLIDE! Thank...
Seems we may be running into a trend line here shortly. It is ATH so cant be too sure. Could pop up out of this flag at any point, given the momentum.
“Bull markets are born on pessimism, grown on skepticism, mature on optimism, and die on euphoria,” he said. “The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell.” - John Templeton ( www.google.com ) Market feels artificially inflated. Who is buying SPY at all time high? Who would have the most to...
SPY SHORT - Resistance max at 303 > Graph and indicators > From top to bottom : MACD - Histogram shrink - MACD crossing sell signal - Resistance max at 303 - Support at 287 Graph - Resistance max at 303 - Support at 287 - Candle : Hangingman Jully 15 = REVERSAL CCI pointing down RSI can not go high 3 test <70 Full Stock crossing at 96 All the best! Waz-
With an all technical perspective, the spy has formed three tops within the last 6 months with less bullish sentiment. On a weekly chart we can see spectacular RSI Divergence and a Doji Star. I think this is a very good risk/reward scenario for considering a short position in spy. The Entry Could be around the close of the doji and a stoploss if it breaks above...
Let's look at a few things here - First: Based on the last down swing we have reached the 1.272 extension which, based off the patterns taught by Larry Pesavento, is a key extension for trend reversal (the other, 1.618 I have on the chart as well, as that'd be the next target if this one fails). Second: Volume is telling us a similar story, I added my relative...
We've seen SPY reject the blue line three prior times on the monthly chart. Though the reject already happened on the weekly chart in early November. But, now, if S{Y closes below 208.50 on Monday, then the monthly candle is a doji. I'm more than willing to short it to hell (also known as 199 if 206 breaks). Note I'm not telling you what to do, but I intend to...