SPDR S&P 500 AMEX:​SPY

SPY consolidating into a penant flag with potential to breakout. Target 267.

Another wedge, another decision time. Could go either way, but if I had to guess, I'd say up. We're seeing dip buying again.

SPY broke the continuing trend from the bottom. And it did retest the trend line and failed to claim it back.

SPY broke the rising wedge yesterday and is backtesting the trendline today. The backtest has clearly failed and has caused almost a percent drop from today's open.

Off by about a week but take a look at the similarities between the 2 tops... 1) Huge run-up in January (jan 18 run-up actually was LESS steep than the current rally and it was going parabolic) 2) Island top from gap n' run followed by... 3) a huge gap down that made no attempt to fill 4) gap up next day close to previous day highs only to sell off to a lower low ...

The ascending wedge over the last few weeks was finally broken, and it was nice to see some retreat. I think this secondary wedge (red lines) may break on the upside tomorrow for some bull rallies. But overall, within the next week I'd say, I think we will see some serious pull backs to the 255 range. I'm hoping for the pullbacks, but expecting a morning gap or ...

Good day folks, It should be a sideway day, with an opportunity to short tomorrow, maybe even today eod. The channel didn't hold, so the support and resistance are being tested. IMO it will fail and this will result with a pullback of the recent uptrend we just had. Thank you,

AMEX:SPY An update on a previous post, but it appears the HnS pattern is still in play. The rising wedge break that a majority of traders were carefully watching, fell below the 50% fib of 263.85 on the daily chart, and has initiated the retracement to the neckline (≈247). Some big support at the 259 area, so expecting a battle there. Then next major support will ...

The last couple of trading days have revealed where more accurate resistance levels are, so I adjusted my chart to reflect that. I personally think this is the beginning of a big move down over the next few months, something similar to December. We'll see though. I'm happy to switch camps if the market proves me wrong, but so far everything appears to be ...

Bulls may have trouble trying to push higher for the rest of the month

Previous market turn forecast for Jan 18 2019 looks good so far. Market turned exactly on the date. Now with the Pesky Gap! completed, the C= 1.27 A looks completed. The +1 power level completed. The Harmonic butterfly pattern completed. The turn should and is working nicely. So where do we go from here? As the turn was forecasted, we are now in a down trend as ...

Today turned nicely on the Jan 18 time forecast. We may now be able to see a possible Deep Crab Pattern (blue). Although to to early to confirm, it would be a pattern that could work into the green "decision maker zone". Let's see what happens this week.

For those of you who listened, don't get out of the short just yet! I see more momentum to go! The indicators have just gotten even more bearish aside from RSI, however it was where we were at on 10/3, 11/7, 12/3. I imagine we will see a gap down again as we go into work tomorrow. Happy Trading!

The S&P 500 has sustained a powerful rally that made it reach above its 20 period upper Bollinger band. With it below its long term moving average, and it falling back below the upper band in this session, a 'Sell Rip' trade alert has been initiated on the broader market. Look for the 200 SMA to hold as resistance, and a target of at least below the current ...

To be clear: I have zero tolerance for anything in the lines of financial astrology bullshit, magic 8 ball readings, or other hullabaloo. This is simply a chart for my own viewing and the education of others on the lunar cycles matched with the market from 2018 to the present day. Red is the full moon, a "bottom" and green is the new moon, a "top", following the ...

4 Hour rising wedge with slowing momentum is breaking down.

Weekly charts are forming a Triangle that should end in August 2019. Each date and level is marked with a blue line on the chart. After completing the Triangle, a rally to 308.31 should occur by April 2020 to complete a fifth wave. The reversal this week creates the potential to form a very strong A-B-C pattern because of the proportions that are developing. The ...

Let's wrap up some recent market news - 31st day of US Government Shutdown - Nowhere ended Trade Talks between China and the US - Rising of Brexit no deal withdrawal - Chinese Economic Slowdown with huge debt - Further economic weakening in Italy and some concerns over Germany Exports All these systematic factors can really set the stock market to a nastier ...