Continuation of the downtrend? Jan 4th

Let’s start the day by analyzing the cycle trends and their strengths. This will give us a good understanding of today.

M15
Slowest Cycle: Bullish - Strong - Flat trend
Slow Cycle: Bearish - Strong - Flat trend
Fast Cycle: Bearish - Weak - Up trend
Fastest Cycle: Bearish - Strong - Downtrend

M5
Slowest Cycle: Cross - Weak - Downtrend
Slow Cycle: Bearish - Strong- Up trend
Fast Cycle: Bearish - Strong - Downtrend

M1
Slowest Cycle: Bearish - Strong - Flat trend
Slow Cycle: Bearish - Weak - Flat trend

S15
Slowest Cycle: Bearish - Strong - Flat trend
Slow Cycle: Bearish - Strong - Flat trend


From the cycle point of view, we are in a bear cycle for the most part today. However, the bullish strength isn’t completely gone. We have some gaps to the upside around $471.40 that I will be keeping my eyes on. If the sliding continues, we could see SPY break $467.20 and then $465.70

Given the stopping volume we saw at the start of the day, we should see some bullish action today. Also on M1, we have the cycle lines converging, this indicates a bit of volatility for today.

Thanks for the boost yesterday! Keep em coming because it motivates me to give more to this community. Follow and check back for my intraday updates.

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Here is where I'm going with my shorts today: 469.10

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Here is the expected move, trading both ways

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The bulls did a very nice push this morning and were stronger than I initially thought. However, I still except for a correction on this wave. The time window got wider and now we are looking at the gap being filled by 2 pm EST. Enjoy the ride!

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One more level to go for me and then I'm done for the day.

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Alright, guys, I'm done for the day. I consider the bottom gap to the bottom filled just from the amount of retracement but still, a very high probability it will go down to 469.25 at least. I took my profits and I'm out.

This is my last update for today. This is a bit of a guess but I think the probability is for the price to continue to go up, I think it will attempt to close the gap from the early morning yesterday that's to the upside. It will be a massive move if it does that.

Thanks again for all the boost yesterday. If you have any questions or appreciate these updates, continue to boost and leave a comment 🙏

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The bottom isn't in yet FYI. For the price to go up from here, it needs to form a solid bottom. So the probability is for the price to continue down until there is a bottom.