SPY reached the 1.272 Fib line today at 280 and retreated. Let's see if the bulls can push it to the 1.618 Fib.
Fib analysis ... we're at the 0.236 level currently - see how the 198.65 price lines up with the 0.618 level. MACD - look how the blue & orange lines are sloping upward and are far apart - showing strength. RSI 14 sloping upward - this theory requires RSI to get above 70 and hang out there for 1 1/2 months - this has happened before. VIX can stay down near 12...
How'd they do this? .... right to the penny today the SPY bounced off the low of 203.88 (0.236 fib) !!! (I still think next week it'll drop to the 0.382 fib = 199.5 +/-)
Well ... I was a few weeks early with my last Fib prediction. Perhaps it will come true this time. Based on the past two big up moves, SPY has fallen back to the 0.382 level. I'm looking for that to happen again.
The big Oct/Nov move in 2014 and the big Sept/Oct move in 2015 both fell back to the 0.382 fib level. I'm anticipating the same for this latest run up .... down to 196 - probably by Fri April 8 th.
MACD sloping downwards, RSI moving down, Stoch RSI at about 20 moving sideways
MACD starting to slope downward, RSI moving down, Stoch RSI below 20 & moving sideways
MACD moving upwards, RSI moving upwards, Stoch RSI above 80 moving sideways --- similar action as October 12, 2015
Stoch RSI rising through purple band, MACD cross and down near 1.0000, and RSI rising on daily chart. Bullish for next week or so with a target of 123.5-124
After moves within boxes from lows to highs, price came back down 50% of the move (about). Will it happen in the next two weeks again? That will put us down at 200 +/-.
Been playing with arcs the last few weeks on my chart. I think we'll be back down to 205.4 next week.
My arc analysis suggests we'll be around 206.25 by end of day Tuesday
Some Master Power is messing with us GEOMETRICALLY. I think we're between 211 and 206 til mid August.
Each downturn is shorter in time. Each downturn decreases SPY value by half. (+/-)
SPY opened at bottom of ichimoku cloud, and closed at the top. I don't know where I'm going with this .....
USO hit a high today at the lower level of the ichimoku cloud. When the heck will it break through?
Down trend began on the 6th. On the 9th the market decided to go up for a day. On the 10th, a gap down to the 6th trend line which continued to the 12th. On the 12th the market again decided to go astray, only to return to about 204.5ish on the 13th (low point). On the 16th the market caught back up to the trend line started on the 12th. Today we went down...
I've been buying calls when the price is below the 100 day moving average, and selling when the price crosses the Ichimoku blue conversion line.