SPY sold off today and gave 2 opportunities at hitting the 60 cent price target.
The first one was the close of the 30 minute 8 am PST candle. The second was when price failed to close back in the OR and there was a doji on the 10:30 candle.
If you buy puts on SPY, you could have easily made 20% or more on each. :-)
FYI, the chart on the left shows my 2...
Price has so far failed to break the 5 minute Opening Range. If price does break out to the top, target is 323.27. If price breaks out to the bottom, the target is 320.52, which also coincides with the overnight low.
If SPY Sustains an Opening Range Breakout, Price Target is $321.50.
Look for resistance at 321.23 which is the overnight high (pink line).
The overnight selloff helped to reset the RSI Candles which are showing hidden divergence, a bullish continuation pattern.
For the first time in 4 days, SPY has hit the 5 minute opening range extension of the OR High + 60 cents. This is the cyan line on my custom indicator.
Will SPY continue higher? I'll be watching price action plus my custom RSI Candle indicator at the bottom. As you can see, this price move up has put the RSI High above the 70 level. The Hull Moving Average on...
On most trading days, the SPY will hit at least .60 cents from the 5 minute initial balance. It failed to do that yesterday and while it came close in the overnight trading session, it has so far today failed to extend past the opening range again. As rare as it is to miss that 5 min opening range target for 1 day, it's even rarer to miss it on 2 days.
Bitcoin continued it's 4th day of sideways movement but is making higher lows and lower highs inside the bull flag. The question is if and when it will finally be able to push back above the 12,000 level.
Bitcoin spent the day today trying to smash through the $12,000 level with an early morning push and now a late day push.
The last part of the video I show how the alt coins are still moving lower against bitcoin and not showing any signs of reversing.
(not investment advice)
Bitcoin continues bullish rise. I've added a new indicator bars_in_a_row, to the chart that counts consecutive bars (you can get it from the public indicators). We are hitting the limit of bitcoin consecutive days so having a down day does not stop the bull move.
In the first part of the video, I called the confluence with the trendline and the fib level the .38...
The total crypto market cap, including bitcoin, is breaking above the 21 and 50 HMAs and the 21 HMA has now crossed back over the 50 HMA. Time to get ready for the next bull run. :-)
( Not investment advice)
Litecoin is currently trading between 2 support and resistance zones, roughly between 88 and 108. The top of today’s candle touched the 100 EMA but the fast 21 HMA has started to turn up. Also, the fast squeeze indicator has turned green and the slow squeeze has turned dark red, a sign of a potential upward move.
We’ll see if price can break and stay above $100...
August has brought with it a new bullish move in BitCoin. After selling off in July, the bottom of $9,100 has held for now and price is moving higher though the fib ladder. Additionaly the 21 HMA has turned green and price has pierced through the 50 HMA, all suggesting that another bull leg may be starting.
(This is not investment advice. It's just my take on...
In this third part of the bitcoin price analysis, I go over the measured move to reveal a bearish price target of $7,250 which coincides with the fibanocci analysis I did in the first part of this series.
Bitcoin fell below the $9,500 support range and is struglling to get back above that key support level. The bottom of the current range is around $9,070 and if that doesn't hold the next major support level is $7,600.