stein3d

stein3d Updated 

SPY appears to be sitting at a key level, the direction it takes from here should determine the trading action for the remainder of this month and into June. Bearish case: We are in a well-defined downward channel and have yet to break out to the upside. With SPY sitting near the top of the channel, a rejection here should send us back to retest 380 lows and...

stein3d Updated 

This gives an idea of what I'm thinking/seeing in the scenario that we're in the very early stages of a much needed market right-sizing. If we subscribe to that notion, and look back at the most recent period with similar characteristics (2008), then I'm wondering if we just might be around the area marked on the overlay. It lines up in pretty well in terms of...

stein3d Updated 

I've seen similar takes on this recently from people much smarter than I, but as I'm still learning, I figured I'd take a stab at this. I see support for continued upside on the chart in the near term, although they've been very sneaky about it this week. Overall, we appear to be respecting a well established channel on 4hr and daily charts this week after...