I am not bearish, yet, at all....... market opens in over 12 hours.. lots to change and probably will change by then. Remember last week when the market dumped on the shelling of the nuclear plant yet by morning the market was fine (that dump had NOTHING to do with the shelling of the plant. It was going to happen regardless. STOP LISTENING TO THE NEWS!) ...
SPY should hit 422 on or by March 8th. Indicators show that Bullish momentum is growing weaker, while the On Balance Volume shows struggle in SPY going any higher.
With surging oil prices, and an escalating War in Europe, I think SPY will have a harder and harder time breaking through it's resistances. We also have the FEDs rate hike in March, and with new talks...
Possibility of more downside as price action is not bullish. Could test that demand area of around 400 unless we break the downtrend.
Just my own thoughts.
over 433.5 436-438 possible
under 427.5 423-425 possible
#intradayoptionstrading #daytrading
NO bias, plan for red or green day. chop/ranging = hand sitting
spy broke trend resistance and now its acting as support, as long as trend/local support hold im bullish this week.
over 433.74 my targets are 439.09-450. below 427.56 my targets are 415.18-410.99.
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Journal Entry
Bias: Positive.
Sentiment: Optimistic.
Emoji (emotion): Elegant 🤵♂️.
Null Hypothesis: Buy.
Alternative Hypothesis: Sell.
Signals: At support.
Position: Short term day trade.
Notes: SPY is in a neutral channel.
Barron's Company Overview: www.barrons.com .
Other: www.etf.com .
Tutorial: (Q/A) What exactly is the box labeled tolerance? The...
Analysis done on hourly and daily candles. Modern day traders who joined markets after the Covid-19 crash often turn a blind eye to opportunities outside of technology and innovative sectors, but this is a mistake. One thing we know about Wall Street is that they don't like to let their capital sit, so when it comes out of one industry they often move it to...
My Sunday post!
Here are my anticipated levels for indices and some of my favourite stocks :). Included: SPY, QQQ, DIA, TSLA, RTX & AMD
SPY (chart above)
Technical Overview:
On the 1 hour chart we have what looks to be a bear flag. This also is visible on the 4 hour chart. Now on the 4 hour heikin ashi chart, you will notice pancaking of the candles. These...
I still see no reason to be bullish on the market right now while SPY is in a consistent downtrend. Creating lower highs and lower lows, below the 200 MA. Looks ugly right now.
SPY Ex-Div date is the 18th. We are currently in a downtrend, and SPY has dropped more than $5 the Thursday and Friday of Ex-Div Date going back to last March. I will be betting on another $5 drop starting March 17th.
Short term downward channel holds strong. Near term target at $380 level based on Fib retracement. War, inflation, supply chain etc induced uncertainties will continuously impose headwind on the market. Be ready to embrace impact.
Short-term. Looking for media push, catylst. See opportunity to squeeze shorts over two to three day period. Less than a month who, observed similar gap down, slightly bullish day hammer... Resulted in 27pt (+6%) move.
450 EOW PT
Filled by a quick revenant, and lower low. Next next week if orange dotted previous support breaks test 410s.
This explains what we're experiencing now or will when we try to retire on our 401K Plan.
To put it simply, inflation has eroded the purchasing power so dramatically that
retirement may no longer be a viable option for most non-governmental workers!
I will go back to doing my weekly post... green box is our target coming up. Pick one.. think we go up or think we go down. (not saying anything, but notice anything? Notice 2 things?) Should be a good week! This week sucked! (swings did ok) but the trades I pick to trade for the upcoming week, I just sucked! I have had 3 very small losses on...
430.85 support
432.68 head
432.27 shoulder
If 428.20 or below open, drop towards 426.28 March 8th. Below that, drop to 420 by March 9th
415 by March 10th
410 by March 11th
Sell March 11th ideally
