veac55

veac55

First to note: This is playing out almost exact as my ominous 2007 chart pattern that I posted a few days ago on Jan 02. Im glad I posted it as it reminded me of being cautious on topping patterns, and today I cut my losses early from my most recent Call. This is the 2-hr SPY chart, at 1:30 today it closed very bearish. The 2-hr stoch crossed down, and 4-hr stoch...

veac55

As said in my post two days ago, watch what SPY does at the daily 8ema. Today, it fell to that T-line and played a perfect bounce off of it and closed strong with a daily stoch that flattened. I opened a Call earlier in the day with a target of 479-480. Where do we go from here, thoughts?

veac55

This chart is Apr-Jul 2007. Almost the exact same pattern as we see in Oct-Today. Again, the big test this week is if price pulls back to the blue T-line (8ema) and slings off positive candles to negate this Jul 2007 brief collapse pattern. If it fails the blue T-line.. look out below

veac55

2-hr stoch closed with a failure. Because of this I am looking for a 0.50% drop early next week to the resistance zone. Get out of any puts as this area is also the daily 8-ema.