This is my weekly analysis for SPY. Spy has started to make LH LL on weekly and Daily. So trend is changing. If you have any doubts let me know.
NOTE: DO NOT GO LONG
New update.
It seems like markets have found themselves face to face with reality. The bear market rally seems to have run out of steam due to the amounting economic and inflationary data. Simply put, I do not think markets can rally from here, based on:
RSI overbought on 1W
MACD Crossed on 1W
Food prices are at 18 moth highs according to UN.
Fuel...
The latest Consumer Price Index (CPI) report this week has shown inflationary pressures, with a 0.6% month-on-month increase in CPI, in line with expectations. Additionally, the core CPI, which excludes volatile food and energy prices, also saw an uptick, rising by 0.3% month-on-month, above expectations at 0.2%.
On a year-on-year basis, CPI has surged to 3.7%,...
Dr. Michael Burry, the famous "Big Short" hedge fund manager known for accurately predicting the 2008 subprime mortgage crisis, has apparently found a new "Big Short" opportunity
betting more than $1.6 billion on a stock market crash.
In line with a bearish macro view, Dr. Burry aggressively trimmed his positions in regional bank shares and exited his bet on...
AMEX:SPY is creating an intermediate top , with a lower high formed below the previous lower high ( which was at the bear gap below All Time High. We may see a deeper correction and a short trade with target as gap fill below is looking good
The SPX is showing 4 variables that suggest the price will drop.
In our trading strategy, when an asset that is showing 4 variables in the same direction, we take the trade. As always the SL is one that as of right now makes sense, we will update if something changes.
The 4 edges (Variables) that suggest downside:
1. Confirmation of old channel as...
Thinking if AMEX:SPY breaks out above, taking Call options to target at key level. If SPY breaks down below the triangle, taking Put options to target at key level below. Pay-tience!
AAPL forming a ROUNDING TOP on the MONTHLY chart? Could be a macro bearish reversal for this giant before it grows again?
Or will it simply fall to the 150 range and continue bouncing upwards on that yellow trendline?
I am BEARISH in the short to mid-term. The whole market will turn over giving the global macro conditions as well as piling national economic...
I think AMEX:SPY has seen the highs for the year and is starting the process of rolling over. I think people like Tom Lee calling for new highs on the year are about to get humbled.
I think we're going to go lower than last year, the question really is how low do we go?
My bets would be the bottom is under $300. $270 looks like a good place to bid (a 40% drop...
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...
My SPY analysis is pretty much aligned with the CBOE:SPX index
Here is the best estimate of where we could be now. Minor 4 lasted a little longer than forecasted but managed the moves up and down in line with historical models. It is possible Minute waves 1 and 2 inside of Minor wave 5 have already completed. If that is the case this is the plan for Minute wave...
This is the analysis for SPY FOR THIS WEEK. I have discussed my shorting levels clearly. Trade safely, confidently and dont gamble.
NOTE: I WILL SHORT AT THE LEVEL DISCUSUED IN THE ANALYSIS & NOT BEFORE THAT
Whenever this occurs, it signals the bottom of the market.
In this weekly chart, the blue line represents the 50 Simple Moving Average (SMA) and the black line represents the 100 SMA. As we can see the 50 has inverted the 100. Whenever the 50 crosses below the 100 on the weekly chart and then price moves above the 50, the market doesn't set a new low until a new...
