It is essential that we apply multitimeframe technical analysis and there is no better example of why that is the case than the current SPY chart which, if analyzed properly, clearly points in the upward direction.
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No catchy title today. I mean I never do catchy titles anyway.
Anyway, what a nightmare day. If you followed my video, you will know it was not a great day for me. I would be ending the day net red if I didn't own futures last night.
So if you are also a day trader and had not a great day, don't feel bad.
I am long. I got long at some random location during...
As you can see on this ratio chart, we had a breakout and backtest with weekly bull divergence, which likely means AAPL will gain less value - or lose more value to SPY in the coming weeks. Since I expect the market to fall from this area, I also expect AAPL to outperform to the downside for a while. Earnings could pump it first - and if so, I think AAPL would be...
boost and follow if this helped 💛 looks like this trend support zone has held all 2023, break of 396 is bad news for longs.. but that hasn't happened yet.
bounce from here and I expect a push to 415 🎯
0. Notes to follow;
1. Major breakout happening here;
2. That diamond formation (a specialized version like prongs to the north) is the AI generated most frequent
pattern we are seeing;
3. Looking for $430 on the SPY here.
Well today was just like I said in yesterday’s write up, risk off profit taking day. Again the year of confusion, remember that you’re not the only one that doesn’t know what to do with the data coming out. Tomorrow should be a rebound day if the Employment Cost Index QoQ which is the measurement of business price and the government pay for civilian labor. Last...
Looking like a right shoulder forming here.
Late day rising wedge forming here.
A move over 404 would most likely lead to a gap close at 405.60 and negate this pattern
15min chart going overbought which indicates a late day flush incoming
NQ And ES starting to go overbought on the hourly.
AMD has earnings Aftermarket
Today SPY has created a new upward trend today but with troubling signs of momentum.
Volume is consistently going down for each period showing little conviction of the rally
Broken below the support line twice.
We should expect this rally to be short lived
In my experience there are phases to creating a strategy. In this episode we will cover one of the most important steps: establishing an exit strategy. Exiting a position is crucial to risk management. If your entries are terrible but you have a good exit strategy, you might get by and not lose a lot of your capital. And vice-versa, if your entries are great, but...
✅SPY will keep growing
Because the pair is in the uptrend
And recently broke the key level
So we will be expecting
Bullish continuation
LONG🚀
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🖼 Daily Technical Picture 📈
➤ After Friday's weak close, prices acted even weaker by a sharp fall on Monday. Well...not really a sharp fall...more of a standard-sized fall given the jump in volatility post 2021. In any case, the Bears have made the first move in this important week of economic announcements. What response will the Bulls have on interest rate...
Notes: SPY gapped down and had a choppy red day. I have no hope or expectations for tomorrow as I think economic news and lots of major earnings throughout the rest of the week will cause some wicked price action. Trade safe tomorrow, and don't trust the moves. MMs love to set traps in setups like this.
Watchlist:
MRK - 2-1. One of my favorite stocks to play...
Focusing on the current trend, I drew a bullish symmetrical continuation triangle. Highlighted at the end in red you can see a bullish double bottom being formed pretty nicley. This is on the daily chart. The longer the time the more probable the outcome of the indicators are. Although we all know many factors are driving today's market such as many fundamental...
SPDR S&P 500 ETF Trust is an Exchange traded fund. The fund seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of the S&P 500® Index. The S&P 500® Index is composed of five hundred selected stocks. SPDR S&P 500 ETF Trust was founded on January 22, 1993 and is headquartered in New York, NY.
NYSE Arca
