SPY Bull Run Eyes $492 Post-FOMC: Key Indicators & Gaps Analyzed
SPY's Bullish Surge: Decoding Market Indicators and Gaps
The SPY is riding a bullish wave, scaling new heights with remarkable momentum. On my chart, three proprietary indicators are at play, offering unique insights into the market's pulse. Particularly noteworthy is the indicator that measures cycle direction strength across time frames. Currently, it signals substantial bullish force from the higher period cycles – a force that remains unyielded.
Post-FOMC statements have set the upper resistance for SPY around $492, and that's my line in the sand for considering any short positions. We're not there yet, and the strength indicators suggest the climb isn't over.
Thursday's trading painted a complex picture: an impulse wave downwards, which acts as a correction to the previous day's upward surge, left a notable gap at 472.30. The odds are in favor of this gap being filled before the market rings in the new day. Yet, from the vantage point of the shorter cycle, the target gap stands higher at 462.88.
When it comes to trading these gaps, the rule of thumb is clear: the market must tread in the gap's direction for it to be closed. As traders, we watch these patterns closely, for they often spell the difference between an ordinary trade and a strategic win.
Stay tuned, follow for updates, and trade with the confidence of informed insights.
The SPY is riding a bullish wave, scaling new heights with remarkable momentum. On my chart, three proprietary indicators are at play, offering unique insights into the market's pulse. Particularly noteworthy is the indicator that measures cycle direction strength across time frames. Currently, it signals substantial bullish force from the higher period cycles – a force that remains unyielded.
Post-FOMC statements have set the upper resistance for SPY around $492, and that's my line in the sand for considering any short positions. We're not there yet, and the strength indicators suggest the climb isn't over.
Thursday's trading painted a complex picture: an impulse wave downwards, which acts as a correction to the previous day's upward surge, left a notable gap at 472.30. The odds are in favor of this gap being filled before the market rings in the new day. Yet, from the vantage point of the shorter cycle, the target gap stands higher at 462.88.
When it comes to trading these gaps, the rule of thumb is clear: the market must tread in the gap's direction for it to be closed. As traders, we watch these patterns closely, for they often spell the difference between an ordinary trade and a strategic win.
Stay tuned, follow for updates, and trade with the confidence of informed insights.
Comment:
The day trading cycle for the day is bearish as you can see, and its growing. So I will be looking for short entries today until this trend changes. We have to be careful because I expect a sideway market, more or less due to the bullish strength from higher cycles.
Comment:
The market filled the earling morning gap.
We are in a sideway day with a fight to establish the direction. Lots of scalping oppournities today as gaps are made on each wave up and down and each being filled.
We have have the higher period cycle's bullish strength being challenged but holding. This means a wave back to the top is highly liklie. However, we have smaller cycles being bearish today. Hence the sideway moves. Good luck!
We are in a sideway day with a fight to establish the direction. Lots of scalping oppournities today as gaps are made on each wave up and down and each being filled.
We have have the higher period cycle's bullish strength being challenged but holding. This means a wave back to the top is highly liklie. However, we have smaller cycles being bearish today. Hence the sideway moves. Good luck!
Comment:
Based on the current PA, high likelihood that we will see 467.62 today
Comment:
I hope you had a successful trading day today. It was a battle between the bulls and the bears with no clear winner. However, we saw high volume price manipulation by the market makers to defend their bullish stance and, hence, the last pump to close out on their positions before the weekend. I will post a new update on Sunday for my game plan for Monday. You can expect multiple updates a day as I scalp for cents off of SPY.
Momentum is your friend. Think beyond the box, expand your reality and you will be ahead of the trend.
