Hi All, What a strong close today for SPY. It certainly took Bears on surprise, the bigger surprise was Nasdaq strong pull back to green as there's a lot of FUD around inflation, which is true but FAANG stocks are too cheap to be ignore for long. Again, correction can be very tricky, I'll not assume or jump into any conclusion, we're still sitting in...
All the targets are listed in the map.
Combining Fib Extension to project the probable targets for 5th Wave top (if not reached already). Thanks!
Upside target is still 4235 as long as 4113 holds. If 4163 fails, next bullish bounce can be seen from 4146 or 4135. Close below 4113 may indicate short term trend change unless we see a quick crash and bounce around 4050. On upside, 4188 is immediate resistance, once overcome can move towards 4235-4240.
Showed to be overbought, broke out of resistance with no overbearing candles and only baby candles, I'm expecting a drop to around the 78.60% Fibonacci level
After that nice little end of day rally on Friday I'm looking at a price target of 385 - 380 by this upcoming Thursday to bring Spy down to the 50 or 618 fib levels. QQQ is ahead of SPY just a little in regard to fib retracement. Recently had a big upswing off of the 50 fib to above 23 fib before having an aggressive sell of > -2% in one day straight down to the...
2/28 - SPY / Market looking to consolidate gains of 2020 through the middle of 2021. 1. The gap down and down week on higher volume is telling of a coming consolidation/correction. 2. The usual 4th wave pullback formed a triangle and its measured target hit almost exactly. 3. 5th wave of primary looks to be complete. At a key area here. the 2020 up trend line...
We are breaking the long-term ascending wedge: - We're at resistance that's been in place since May 2019 - We're barely holding support since COVID low (this is 4th touch) -> I expect we will continue to break down out of this ascending wedge. It may be tomorrow, it may be sometime in March, but it'll happen -> Frankly, we need some consolidation with all...
This is my first time charting UVXY, not saying i'm freaking out but i'll look at this chart every single day now bc its scary.. Copy the chart and look at smaller timeframes
Markets will face their first major challenge of 2021 as the rapid spread of a new, more contagious coronavirus strain means that economic gains could still be a way off. The December jobs report on upcoming Friday could show that the pace of hiring is slowing down amid renewed pandemic-related restrictions on businesses. Meanwhile, energy traders will be turning...
SPY500 - S&P500 - SPX - Sell - Daily Chart Sell @ Current Price approx 3527.4 yet also Major Resistance at this level Sell @ Pull back to 3558.8 Major Resistance level 1 @ 3527.4 may pull back for a better entry Major Resistance level 2 @ 3428.5 Major Resistance level 3 @ 3316.6 Take Profit @ 3251.0 Please share your opinion in the comments, and support the...
Key points The DXY may bounce on resistance as shown Oil may bounce on support as shown Bonds remain unchanged as shown Need to gauge Asia's reaction from our sell off today for confirmation on tomorrows trade For those that don't understand intermarket relationships. From left to right and can start at any point. Currency ------> commodities...
September 28th Resistance/support will intersect and we will see downwards movement into new territory. The risk vs reward for shorting is much greater than going long at the moment. Short term Bearish/neutral Medium term Bearish Long term Bullish I believe we are setting up another Jan 2018 OR OCT 2018. Red arrows indicating heavy...
In my philosophical view, humans tend to always need an "answer" for everything in life. Historically we created gods to explain the unexplainable. That's not to say that i am an atheist in my religious view, nor am i trying to make this a religious discussion, I'm purely commenting on human nature. We are a curious species and we learned to not take "no" or "i...
Hello traders, Description of the analysis: SPY support zones ideal for timing long positions (gray). Trade what you understand, trade carefully and sparingly according to the business plan. About me: Hi, my name is Jacob Kovarik and I´m trading on stock exchange since 2008. I started with a capital of 3000 USD. My first strategy was based on OTM options....
Price has been on a long bull run so its about time for a pullback. Price made a big move to the downside but is still in an overall uptrend. Although I know price is still in an uptrend I am looking to go short on SPY if it pulls up into my sell zone before reaching one of my buy zones. I am also not going to just buy SPY at those zones just because price comes...