This chart marks previous instances of the 50 MA crossing below the 200 MA. While it sounds negative, it seems a death cross has occurred near the bottom of most significant declines.
The current state of the markets appear strikingly similar to that of late '07/early '08, so that is how I am going to play it. Powell and his FED cronies have an interest rate decision this week and as history shows us, the FED seem to always do something at the worst possible time. The market always stays stagnant before the FED meetings/announcements, so we are...
Short Term Elliott Wave View in SPY suggests that the decline from March 03 high is unfolding as a 5 waves impulse Elliott Wave structure. Down from March 03, wave (i) ended at 423.54, and rally in wave (ii) ended at 432.20. the ETF then resumes lower in wave (iii) towards 417.89, and rally in wave (iv) ended at 423.03. Final leg lower wave (v) ended at 414.00...
$SPY Key Levels, Analysis & Targets
OK… FOMC tomorrow @ 1:30pm est. Back to the 4 hour chart… I’ve been on the big timeframes so much -which show so much- but aren’t practical for intraday…
Any and all resistances are looking like a great place to add to my short… I just don’t see the bull case right now, not technically, and not fundamentally, or macro...
1d chart shows descending triangle. Most probably going down. I know the strength is more at the end of the day moved it up.
Factors: anticipation of interest rates hike.
Daily Report
SPY had some bullish price action today. 2% up day with increase volume. The RSI is currently breaking out. We could see a nice run up to the 435-440 level by end of this week. Since the FOMC meeting is tomorrow that could give it some boost if we get some good news. I want to note that any bounce on SPY will only be for the short term.
We may see one more bounce to 426, possibly 430 (higher high on this downtrend)
This may happen overnight or tomorrow.
After that I expect continuation of the downtrend.
Also we are about to experience death cross on daily (21 of March is my guess), which will coincident with end of pennant.
I am short on SPY from 350 with 20% of my position.
The rest I trade and swing.
The recruitment of a short position by a major player is not possible by only pressing down on the instrument. To gain a position, the player sometimes with the help of a gap or a sharp upward move of the price enters. Traders open positions on a long, think that the instrument has turned, thus then when they are swallowed and go down, stop-loss orders are...
Whats up Traders
I would like to see an SPX pull back, over the next month (or two) back in to the low 400's. I think this would be a healthy pull back. I also think the technicals indicators are pointing to it . . . as shown and explained on the chart.
If you have questions, post them below!
Remember - Bet with your head, Not over it.
- Nix
I still think we see some upside. It just makes sense. IF we were able to (might be a far reach but IF we were able to) get into the 430s, it would make sense in so many ways and provide just really nice setups. Dont worry about Jerome or whatever nonsense you are selling yourself a position on or that marketwatch is trying to sell you a position on or CNBC or...
There is getting to be a solid case for a significant move lower between now and the end of the month.
The Hang Seng index broke down below March 2020 lows
A Gap in SPY/SPX from Apr5th 2021 is looking to get filled, the same gap when the Overnight RR broke out.
You know.. right after the prime brokers threw Archegos under the bus.
Russia is still afraid...
AMEX:SPY Lost 71.8% fib at 423 so it's most likely to test 61.8% which is in the 380 zone. Death cross also formed. Bulls are in denial this is VERY BEARISH.
Inverted VIX
SPY
TRJEFFCRB (Commodities)
This concept based on the 18.6 year real estate (land) cycle as described by economists Adam Smith, David Ricardo, Henry George, and Fred Foldvary (in that order).
