SPY GAMEPLAN FOR JUNE 2,2022 Based on today's economic news: ISM Manufacturing (Apr) 56.1 vs 54.5 Expected JOLTS Job Openings (Apr) 11.4M vs 11.35M Expected The market was up the first 30 minutes of the session, and then after the news, it got rejected on resistance and then bounced back from the support of 407. Also, keep in mind that vix is on a support level...
The 4h 200 ema has acted as an important pivot point on $SPY and this is the area where the R/R presents itself to favor short positions over long positions after an extended bullish rally over the past few trading sessions. Watching it closely!
GAMEPLAN FOR MAY 31,2022 Soy is trying to reach the 430 area level as futures showed strength yesterday. ES touched $4200 seems a great possibility, but we need to see what happens on pre-market as always. Market sentiment can change. Overall, the main thing to consider is that VIX is at support, and if VIX breaks, that support area market will see a massive...
Bitcoin is just getting warmed up in my opinion. I mean look at the charts when you compare fractals (human psychology/emotion) which usually always plays out, you'll see compared to the S&P that Bitcoin is only in the second impulse wave on higher degree of trend. I see Bitcoin going absolutely berserk over these next few years. You will see 1 million dollar...
Just a follow up/review from last weekend's analysis on $SPY and a big part of our success is having a plan & knowing what to expect before it happens. Just from the 2 basic Channels (using simple trendlines), you can see SPY was GREEN all 5 days last week. Spy hit the Intermediate Trendline last Friday (5/20) and bounced off there for an expected return to...
That's the plan for now. This is what I have mapped out for myself. Going to wait until it hits $430 (resistance) and buy puts with a strike price of $350 and expiration of June 20-Jun 25th and wait. Unless it really buckles and moves in another direction willing to wait and see how this plays out. Not financial advice, simply my journal.
Based on this EW count S&P 500 correction is likely to be OVER! If this is indeed to be true, S&P 500 will make a new ATH completing the 5th and final wave of this current bull market cycle.
Hello Traders, I will get straight to the point today. It looks like a bit of a reversal, or is it a bear market relief rally? What I'm looking at: If price moves above around 408.80-409.5 and keeps momentum, watch out for a gap up around 412. This is likely a relief rally, and we are probably just reverting to back to the trend because we were QUITE a bit...
Bottom looks to be near the bottom. This will be the last bull run before a major correctional cycle Will be buying in the orange fib zone
Trendlines still seem to be holding to some extent. Should see some direction tomorrow during/after FOMC.
SP:SPX We are at extremes... Bounce expected after 8 red weeks.
There's been a lot of people that have been conditioned to buy the dip over the last two years, because every time that's happened, it's led to higher prices. There's people making bold calls that after this "small dip" we're going to turn around and meltup to $6k. I don't buy it. Looking at the structure of the chart, price action already looks bearish on lower...
Watching $SPY over 394.46 for long entries with a target at 400.05. The bulls have defended support nicely up to this point.
The investment seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of the S&P 500 Index. The Trust seeks to achieve its investment objective by holding a portfolio of the common stocks that are included in the index (the "Portfolio"), with the weight of each stock in the Portfolio substantially...
Hey everyone, Here is a demonstration on a long squeeze for the SPY. Given we have overall bearish momentum, this move is an institutional trap for retail traders who believe they are trading a break of resistance. Always trade the trend. Peace, Seb.
Looking for the retest of 410.64 daily level. Over 410.64, expect 416 in extension.
410.64 is a key daily/weekly support that turned resistance so a re-test would be expected at some point.