UnknownUnicorn1694303

Double-Confirmation of More Uptrend.

Long
AMEX:SPY   SPDR S&P 500 ETF TRUST
Major Keys why this Uptrend will continue:
-- 8 out of 10 overnights showed GAPS UP (Yellow Boxes). 2 showed GAPS DOWN (Red Boxes). This after hours activity is usually commensurate with your insider and whale positioning. They have used the after hours 80% of the time to ramp this up. It requires much less capital to do so in after-hours, and they have been very clearly doing so.
-- Trend Bend. This week had shown a horizontal vector and was indicative of a possible major trend down formation. This downtrend was bent the last two days to the upside. (cup and handle confirmed). More confirmation that this is going to be pushed up.
-- This recovery vector is not symmetrical with it's down phase. Symmetry usually happens with high probability.

If you can find a 3 day red candle pullback it's a GREAT opportunity for a 2-4 day scalp even with call contracts. Remember the overnight shows the whales have your back. This up symmetry is different and may present lots of fake out sell off - but this is dialed for up.



Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.