SPY on the weekly chart is up 25% in the past six months. This is beyond its historical norms even during a presidential election year. While there has been some volatility in both directions the climb is consistent and persistent. The indicators serve to document this. The predictive algo predicts more of the same. A price cut when the fed gets around to it...
SPY on a daily chart shows rising VWAP lines and price with the RSI indicator showing strength above 50 since November and presently in the 65 range and so not yet overbought. Volumes are near to the running mean. Price Momentum and Relative Trend indicator are more or less flat but are positive. The mass index indicator does not show a reversal pattern. I...
SQQQ trended down the last two days of last week and especially Friday as the technology stocks surged Yesterday had price consolidation and generally less trading volumes. I believe that SQQQ will bounce at this level. It is supported by a cross above the POC line of the volume profile. Under that line is the stop loss while the target is 17.95 at...
SPY on the 15 -minute chart is shown to be in a megaphone or broadening wedge pattern since March 5th. Price is now at the lower support ascending support trend line. The Gaussing regression line forecast indicator an example of predictive modeling confirms with a prediction that price will trend up inside the pattern and head toward the upper resistance...
SPY on the 1H chart was riding the cynamic resistance of the second upper VWAP line in mid July but then pivoted down out of a head and shoulders at the bottom of the month and is now bounding up and down retesting the support of the mean VWAP line. The ADX indicator shows the flat line directional index. The ZL MACD is upgoing after a cross of the lines at...
The AMEX:SPY is underperforming AMEX:RSP (equal weight SP:SPX ). This means that underperformers could very well pick up the slack & outperform the Big 7 going forward. They have been performing well. The Volatility Index TVC:VIX is down on the day BUT up from open. Will the moving avg's push it lower or do we get some sort of support here? This is a...
TVC:VIX is almost @ the MAJOR SUPPORT level we have spoken about many times. IF this 12 area is broken it has a history of going as low as 10. Sub 10 = R A R E! Pulling back to this area after a high VIX, then normalizing to a low #VIX, it has signified a GOOD CBOE:SPX RUN. After some time, shortest span was 2 years, the VIX eventually trades higher &...
Daily TVC:VIX seems to be heading lower, likely retest 13. Weekly not much sign of holding, maybe 12? Longer term the trend from 2020 is obviously broken. Even the monthly can't help now. There is STAUNCH support @ 13 then 12. This area has been strong for a long time. BREAKS? Then 10. #ViX
💡 Pattern: Cup & Handle 💡 RSI: 55 Neutral 💡 Risk: Medium ✅ Resistance: 385 ✅ Support: 344 PERFORMANCE 🌕 ST: HOLD 🟢 MT: POSITIVE 🔴 LT: NEGATIVE *ST: Short-term | MT: Mid-term | LT: Long-term Verify it first and believe later. WavePoint ❤️
If Primary 1 finished today, it hit the forecasted mark from here: And here: The original call for the end of Primary wave 1 ending in October was here (August 2 idea #1): However, I knew the bottom of Primary 1 would be a little later than the initial forecast once Intermediate wave 1 was late in hitting the mark. The initial forecast for the end of...
Very important to keep eye on the $VIX. So far today we have a HUGE reversal AND a possible Bearish Engulfing. SP:SPX AMEX:SPY #SPX #SPY #VIX #stocks #StockMarket
💡 Pattern: Cup & Handle 💡 RSI: Neutral 💡 Risk: Low ✅ Resistance: 34200 ✅ Support: 32800 PERFORMANCE 🔴 ST: NEGATIVE 🔴 MT: NEGATIVE 🟡 LT: HOLD *ST: Short-term | MT: Mid-term | LT: Long-term Verify it first and believe later. WavePoint ❤️
CBOE:SPX chart is quite INTERESTING. We can see the obvious short term downtrend. We're currently at the bottom part of the GAP. Volume has been a lil lighter, holiday is likely the reason. RSI broke the downtrend it was in Maintained the longer term 2022 low up trend. Can AMEX:SPY reach the top part of the current downtrend? AMEX:SPXS AMEX:SPXL...
SP:SPX chart we've been showing for a while now. 1 major edit, moved the top arrows a bit to the right. The major difference now is that AMEX:SPY is WEAKER.
Back in August, the SPX traded at the PCZ of a Bearish Butterfly with some Cypher Confluence and I played it through SPXL, a 3x Return ETF via puts, as seen here: At the same time, the E-mini futures were trading at the PCZ of a Potential Deep Gartley which we now know to be a little bit more than Potential. Since then, it has broken through Local Supports and...
Posting the SP:SPX chart again. Edits: Added the yellow circles. Added new blue dotted line. IMO there's a good chance we could see something like what happened late 2021 to early 2022. We'll likely get some volatility here. Weekly RSI looks in the same area. AMEX:SPY AMEX:SPXL AMEX:SPXS
GOOD MORNING! The 10 largest companies in CBOE:SPX = about 35% They have an average P/E of 50 Kind of scary FYI TVC:DJI joins the Head & Shoulder party As data comes in we readjust #SPX #SPY #DIA #DJI #stocks #indices
This is the 3x Leveraged ETF for the SPY, and at the moment we have a 3 Line Strike with a PPO Confirmation Arrow at the HOP level of a Bearish Deep Crab with Bearish RSI Divergence. If this plays out, I think the SPXL will at least make a 0.618 Retrace of the range, but it could go as deep as 100% or even more.