As I've mentioned in my previous analysis, I believe we're at a market top (Despite Tom Lee calling for new highs).
There's nothing positive for markets looking forward, therefore I think markets will finally price in all of the raise hikes and the poor economy.
I think we may see one more high, however, if we do, I believe it'll result in a rug pull. I think...
For Friday, 4467.50 can contain session strength, below which the market remains the defensive into next week, possibly yielding 4257.50 over the next 2 - 3 weeks.
Downside Friday, 4416.00 can contain intraday weakness, while breaking/opening below 4416.00 allows 4357.75 intraday, where the market can place a daily low.
A settlement today below 4357.75...
SPY potentially could be in the beginning stages of a Wyckoff Distribution phase. Predicting price to gravitate between golden Fib zone for the UT & eventual UTAD before price falls in line with trend line ~320-330
- AVGO blow of top, Earnings report Thursday
- NVDA broke 1 trillion dollar today which sucked in some new buyers then it came back below it, now has 400 psychological support
- SPY rising wedge is still my support & resistance visual guide
- QQQ potential monthly resistance at 0.618 fib retracement
Hey traders!
So here you will see this bullish candle where the blue arrow is pointed on the 4h chart on the S&P, this trade made an easy $15,700 with a more aggressive risk of 10% of capital but with basically 0% drawdown.
My team and i noticed something big about this candle that 90% of traders miss and i mean big! especially if you trade options. Did you...
- QQQ Rising wedge pattern about to break soon
- QQQ bulls still in full control on daily chart daily uptrend intact
- QQQ needs to break May 9th pivot low for us to go from up trend to neutral trend
- Does XLF XLE sector join team bull when QQQ pulls back or they all pull back together?
- Size of the QQQ pull back will be most key for me next week if QQQ can...
hope it helps you understand the current volatility rnage of the asset.
keep in mind that he can change profiles quite easily (a good indication of this is a sudden increase in "speed" and volume).
I personally like the idea of looking for entries with confirmation at the bottom (aimed at the top of the channel), but also gives an idea of the area where more...
Technical Analysis:
- As you can see in the chart, SPY is doing a short term wave 3 in red
- We expect that it will extend lower to finish correction around $300 ~$310 in the orange circle to complete the ABC correction of the wave II in red
- H1 & H4 Right Side is Turning Down
Technical Information:
- SPY is a ETF and it has a very strong correlation with...
Spy today if open or push 396.42 then we can find buy / long and take profit at 401.38 but if the market opens below 396.42 then we can sell at market and take profit must be 391.44. all two scenario stop losses have to be $1 for each change of entry-level. If the market break 391.44 then the next level of support is 387.27.
Trade Idea
We have three short/ sell points 388.55, 386.41 and 386.41. If we sell / short entry from 388.55 then the stops loss must be 389.99 points. if our entry from 387.29 level stop loss level maybe 387.77. our last trade entry point is 386.41 level and this level stops loss is 387.04. Our take profit zone is 383.69 and 380.69. If the market breaks 383.69...
Spy report for Monday
Pushing or opening above 391.49 will go to 394.73 if the price closes above 394.73 prices will shoot to 402.79
breaking 385.26 prices will shoot to 379.58 and closing below 379.58 prices can reach 368.29
closing under 363.94 market will collapse that is IF WE DO
then we are looking @ 290 to 295 on SPY for Final Target.
On March 7th we have the Fed Chair Powell Testimony, that could reveal that the FOMC is going to hike the interest rates for a longer period of time, and maybe give us a clue if it`s the case for a 50bps increase after the next meeting.
On March 10th we have the Non Farm Payrolls and Unemployment Rate that could also fuel a potential 50bps hike if they come...
