Same as my previous idea:
SPY SHORT - Resistance max at 303
> Graph and indicators
> From top to bottom :
- Histogram expand and will shrink
- MACD near crossing buy signal
- Resistance not it at max 303
- Near support at 287
CCI pointing down
RSI 3 test at 30
Full Stock at bottom
All the best!
Investing strategies by pretiming
Investing position about Supply-Demand(S&D) strength: In Rising section of high profit & low risk
Supply-Demand(S&D) strength Trend Analysis: In the midst of an adjustment trend of downward direction box pattern price flow marked by limited rises and downward...
Eyes open if you're long. We're past the point of easy money. Hourly charts starting to show signs of weakening.
I've obviously been bullish, but I'm flexible.
Weekly chart for the $SPY still looks good, but can turn on a dime. By turn, I don't mean huge crash like many are praying for. I mean choppiness with some sharp moves up and down.
If you've been following me here, you've been long and enjoying the rally. New highs were inevitable. I still see a lot of bearishness and people picking spots to short - which tells me this market may go higher than anyone expects.
More importantly, the obsession with looking for short spots tells me bears won't get their big crash delivered to them on a silver...
The weekly SPY chart continues to look positive.
I circled areas where strong bounce weeks ended up failing and reversing to new lows.
But IMO, those reversals came with poor technicals (MACD trending down and/or negative) and showed big red candles right away. Now, we're seeing different action - MACD is turning up now and last week was flattish, closing at...
With the markets hoping for a cut, the stakes are high on how the Fed is going to balance whatever stand they take this week.
The chart shows our A.I. powered models' trading plans for the day! For details, please read the published outlook at tradersaiDotCom
Good luck with your trading today!
Earnings and Economic Headlines to begin to Replace Geopolitical Concerns?
No market-moving geopolitical news overnight and that might be allowing the markets to focus on economic and earnings related headlines. Chip stocks' earnings concerns (read, Broadcom's), China's weak economic numbers, IEA's oil demand outlook, and Gold's rise...these are likely to...
Choppiness Driven by Geopolitical Headlines
Our models continue to indicate consolidation of the recent steep gains with narrow, range-bound trading to dominate. Visit our site for specific trading plans.
#ES #SP500 #SPX #SPY
I want to see a healthy pull back to the levels of support showed above. Once we test the first level, wait for confirmation for the bounce for new (higher lows). If not, we will test the next line support. Of course News and Trade could blow through both resistance and support.
This could be building a descending triangle though its way to early to tell.
Its not an ideal set-up, but its still a breakout with multiple levels of support below.
Bottom line, we have a downtrend breakout and some technical confirmation. Again, its not a slam dunk.
But my gut tells me sentiment got overly bearish, so there is fuel for a rally. And we have a whole lot of support levels all the way down to $277 SPY to hold a sell-off -...