AMEX:SPY April 12,2023 15 Minutes As expected, not much movement. Waited 411.91 to be taken out. Suddenly last 30 minutes drop came to take support at 50 Averages. We can always see that when the price is extended in any time frame a pullback will happen if moving averages are extended. For today 411.16 is crucial and on downside 407.75 being 200 averages in...
AMEX:SPY April 11, 2023 15 Minutes As expected, AMEX:SPY was correcting the structure of chart for the fall in Bank crisis in March. Now all the moving average are aligned. Making a HL HH structure. Wave count If we take 389.4 as start. Then we have 389.4 to 398.92 398.92 to 393.69 393.69 to 411.37 411.37 to 408.43 408.43 to 411.92. Wave 5 is short due to...
$SPY April 6, 2023 15 Minutes The move 393.69 to 411.91 can be considered as wave 3. Because oscillator n5.35 is also green and s it made 411.91as 5 was done in move 393.69 to 411.91. Now retraced nearly 38.2% of the move. Also took support around 100 moving average and just a $ above 200. Formed LH LL in this process and now need to break 408 levels to resume...
$SPY April 5,2023 15 Minutes Patience paid off. Divergence worked. Retraced back to 100 averages. In the process has made LH LL pattern. So now not bullish until 411.9 is broke. 200 averages around 402-403 levels looks possible. Elliott Oscillator Red CCI Red Stochastic black bar in bottom. I feel the chart is correcting itself after being broken in the...
$SPY April 4th, 2023 !5 minutes Showing clear divergence. $SPY making high but oscillator 5,35 is not following that trend. Also, the difference between high and 200 average is nearly 3% which is high for a 15-minute time frame. So, i expect sideways or pull back for averages to consolidate. The issue for me is $SPY is forming HH HL pattern. But being away from...
$SPY 1 April, 2023. Weekly. Assuming 479.98 a end of wave 5 we have 362.17 -431.73-348.11 as ABC. Now formed a HL at 374.77 and HH at 418.31. So weekly buy is still above 418.31. And once it crosses 431.73 i believe strength will me more as it formed a divergence in 362.17 and 348.11 low. The price went lower but oscillator 5,35 did not make a...
$SPY 31 today, 2023 Need to cross 404.35. Daily For the fall 418.31 to 380.65 for the second time 403 levels being resisted. I expect trend change only above 408 levels. 15 Minutes Gaps are always difficult to trade. Changes the structure of charts. And now we had 2 days gap ups. Too much away from moving averages. We have a HL at 401.76 and HH at 404.3....
$SPY 29 March, 2023 No change in daily and weekly. 15 Minutes. As expected not much movement yesterday. Spent most of the day in 393-395 range only. So today or tomorrow will be trending. We are having a LH LL formation. So, downtrend is still intact. If we take the fall 398.27 to 393.69 retracement is going on. $396.6 will be a good level to short. Eliott...
$SPY No change in weekly or daily time frame. 15 minutes Uptrend only above 398.92 and sell below 395 for 390 levels as target. Retraced to 38.2% for the rise 389 to 398. I still expect a range trade only between 390-399 levels. Close computer and listen to Spotify day for me.
$SPY March 25 2023. Weekly LL 348 was protected. HH HL formation is intact at 418.31 and 374.77 respectively. These levels have to be broken for trades on either side. Sideways range last few weeks. Daily Downtrend Intact. As of now buy is above 418.31 and sell below 380.65. All averages are nearby so i expect a move in coming week to be on either side. News...
$SPY March 24, 2023 15 Minutes Spy back to routine. Normalizing all moving averages gap. Now we can assume Wave 1 as 380.65 to 396.45 Wave 2 as 393.45 to 383.71 Wave 3 as 383.71 to 398.33 Wave 4 as 398.33 to 395.59 Wave 5 as 395.59 to 402.49. ABC in progress from 402.49 to 392.07 to 390.35 going. Taking the fall 402.49 to 390.65 retracement could be at play...
$SPY March 22,2023. one Hour Time frame. For the fall 407.45 till 380.65 closed above 61.8% retracement levels. Resisting at 200 averages. 15 Minutes. Could not enter yesterday due to gap up. Broke the double top at 396 level connivingly. HH HL is formed. Today Stop loss will be 395.5 and buy above 398.5.(i hope there is no gap up) I expect 407 levels once 402...
$SPY March 21, 2023 Daily. HL is at 380.65 and LH at 407.45 On daily trades will be once these levels are broken on either side. Cons: 50 day average is above 9,21,100,200. So some sideways action required this week. Inter day Trades: 15 Minutes We still have to consider 396.45 as wave 5 top or C. So a trade can be bullish only above that level. Meanwhile we...
Nifty March 20, 2023 75 minutes. Trend is still down. Assuming a 5 has been done at 16850 Then wave 4 would have been 18134 to 16850. Now if we take retracement on play for the fall 17773 to 16850 the retracements can go up to 17213,17325,17436 which can be considered as A of ABC. As of now for me until 17596 is crossed it is sell on rise in 75 minutes time frame.
$SPY March 18, 2023 Weekly Buy is above 418.31 and sell below 374.77 as of this week. Daily. Patter broken. HL at 407.45 and LL 380.65. All moving averages converging between 390-400 level. Price action in daily will change only above 407.45 levels as of now. $SPY need t hold 374.77 in the lower side. So still we have to look at lower time frames for...
Nifty march 17, 2023 15 Minutes Being below 200 average downtrend is Intact. Maybe a trending day today. HH is 17062.45 and HL 16950.20 100 average is around 17110. 200 average is around 17350 levels. For the fall 17211.35 to 16850.15 retracement is going on. Need to cross first 17074 levels to resume bullishness in this time frame. The 61.6% retracement for...
$SPY March 17,2023 15 Minutes: Crossing 393 was important because it was the 61.8% of the fall 401.17 to 380.65. It was done. Now must hold that level today. 61.8% retracement for the fall 407.45 to 380.65 is around 397.5 levels. So that will be the number to cross to be bullish for the day. 384 was an important level to hold last few days and in the process a...
$SPY March 16,2023 15 Minutes Downtrend intact as long as below 200 averages. Retracement at play for the fall 393.45 to 383.71. 61.8% done for that fall. 390 level being resisted last 2 hours. Uptrend in 15 minutes only above 393.45 (HH) which is also near 200 averages. For the day 384 is important. On upside crossing 393 is important because it is the 61.8%...