New Thread we have a really big week with Jerome Powell Rate decision this week Wednesday! This is going to move the markets and determine our future outcome for sure
Tuesday April 30th levels for SPY
Bulls 515 and chances are this becomes your territory to go long possible outcome Bull Market Resumed
Bears its a short anything under 511 Bears once 500 is...
Seems like its going to be a short.
HA setup for a move to 500 inclusive of extended hours, with an equal bearish setup to 501 with extended hours toggled off.
Interestingly enough 500 is also PL2 on the prospective levels (in the chart above).
Sentiment for Monday is neutral to bearish. I have included some old tricks and models since this past week relying on...
AMEX:SPY May 3, 2024
15 Minutes.
Last 2 days AMEX:SPY managed to sort out the moving averages issues due to sudden up and down movement on May 1, 2024.
Now all moving averages have converged, 50 averages are around 502.5 levels.
So, for the day if I consider the last rise from 501.34 to 505.88, holding 503 levels I will have a target of 506 - 506.5 to 510...
IS there any information about the roof topping pattern? Here is a chart of SPY, and this pattern has been forming for a while now. The house has a support level around 497-493 area were we seen one buyers come in. I have no idea how these patterns tend to resolve, but if we can continue to hold support at that level we can build higher. But who knows right, this...
Bear flag showing here on spy and a few other indexes/ sector.
This bear flag would be consider a handle for a inverted cup and handle.
Smaller time frame looks like this spy
And heres NQ
We are headed back to bear flag support around 500.. from there we could either finish one more bounce higher 511-514 before finishing the leg down to 480
The bear...
I am going slowly short.
SPY should make another leg down this week.
Level of interest is 475-470
Lets see what Wednesday will bring, until then we should stay flat.
From the lows of 470, we shall do the usual election run.
target 548?
Ill be updating this idea.
The chart posted is Low odds BUT must be looked at as the wave structure and the cycle s turn may 8th is nearing .I Am net long spy msft gld dia I have changed my positions and added this morning near the low in GLD I am also looking to buy BITCOIN I have target 56200 to 55900 but we may not get to it .
lol we absolutely nailed this thing yesturday. we alerted our followerz az long az thu lower pennant support at 500 held it'd blast off to 507. so we sold our 510 PUTS posted yesturday, went long there at 500, sold CALLZ at 507, than btfd AGAIN at support at thu cloze yesturday. we'll be sellin thoze CALLZ again at thu open. just insane pennant trading. from here...
Last week, using oversold bounce, buyers attempted to regain control over the price. Their effort was somewhat successful, as they managed to establish both a higher low and a higher high on the daily chart. However, they failed to set a weekly low, which was a challenging task given the magnitude of the previous week's range. This indicates that bears still...
Even though the Stochastic says good time to buy, smart money knows the dumping has only started. AMEX:SPY is still below the 20DMA, in the lower Bollinger band.
This is my prediction. Bounce here should've been expected as GAP UP is support... If we dont make it past the right shoulder, HEAVY PUTS... This feel's like a dead cat bounce and will create a well know top pattern. Paytience
- Prof
Plan is to juice on puts, when panic hits, buy the BAT.
