The weekly SPY chart continues to look positive. I circled areas where strong bounce weeks ended up failing and reversing to new lows. But IMO, those reversals came with poor technicals (MACD trending down and/or negative) and showed big red candles right away. Now, we're seeing different action - MACD is turning up now and last week was flattish, closing at...
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Earnings and Economic Headlines to begin to Replace Geopolitical Concerns? No market-moving geopolitical news overnight and that might be allowing the markets to focus on economic and earnings related headlines. Chip stocks' earnings concerns (read, Broadcom's), China's weak economic numbers, IEA's oil demand outlook, and Gold's rise...these are likely to...
Choppiness Driven by Geopolitical Headlines Our models continue to indicate consolidation of the recent steep gains with narrow, range-bound trading to dominate. Visit our site for specific trading plans. #ES #SP500 #SPX #SPY
I want to see a healthy pull back to the levels of support showed above. Once we test the first level, wait for confirmation for the bounce for new (higher lows). If not, we will test the next line support. Of course News and Trade could blow through both resistance and support. This could be building a descending triangle though its way to early to tell.
Its not an ideal set-up, but its still a breakout with multiple levels of support below. Bottom line, we have a downtrend breakout and some technical confirmation. Again, its not a slam dunk. But my gut tells me sentiment got overly bearish, so there is fuel for a rally. And we have a whole lot of support levels all the way down to $277 SPY to hold a sell-off -...
Look these 3 buying zone to consider to go long they might give huge profit .
Oil is usually a good indicator for when the SPX goes up. When oil goes up so does SPX. With that said that is a strong possibility that oil will go up next week. It looks like Oil did a ABC correction down, indicating there are a lot of more upside down. If that is true, we would see SPX follow and possibly hit 3000 SPX. We can see that SPX bounced of the...
We would potentially see a bounce of the 1.272, at 2830 for a potential long setup. I would keep a really tight long setup, at 2810, to test out this support. This means that the next wave 3 is up to 2960, and wave 5 will hit the resistance at 2997-3010
By measurement, we are at the larger wave 5. If this is correct we just have corrected with the 4th. That means we have a wave 5 coming up at 298-300 SPY. By that if 0.5 fib breaks at 286, this scenario would not look too good. As we would have lower targets ahead.
decreasing buy volume signals me to believe there is not enough bullish momentum to break current resistance level (ATH)
SP500 QQQ ETF supply and demand analysis and forecast for 22nd April 2019. SP500 SPY ETF is trying to break weekly supply at all time highs around 293. There is a clear long term weekly and monthly uptrend with all time highs previously eliminated and brand new demand zones created on bigger timeframes like the one on the weekly timeframe around 281. In an...
Good afternoon traders, Let's take a look at spy and what should become a very critical week for the US equity market. Looking at the chart we can see that we obviously had a sharp correction from all time highs, and an equally sharp rebound. It's understandable the markets hesitance to enter a correction considering it has the leader of the free world pinning...
Here is a scenario for a 50%-61.8% retracement for SPY, up above $282, before continuing it's sell off. Looking to the left, there was a very similar structure in late February into early March. You can see how the peaks are quite identical, and on the low following the last peak, there was a retracement between 50%-61.8%... and also to the area of the 100MA....
Hello to all who watch my charts. The S & P 500 is exactly as announced in my last post: Strong Long. and is currently running up my blue long trend line. To all who still write after short I give the advice Please always remember: Trade what you see in the chart and not what could be in the future or what you think will be in the future. Then you will also...
I think the price can move up - Daily candle close above key level 280.80. On the chart, you see that price bounced many times from it - Middle - term trend is Up
The resistance zone identified with red is a stubborn area. SPY will have to push hard to get through it. If it falls, it will likely catch support at the daily support line of 277.45 and it almost lines up with the bottom trend line of the channel as well further strengthening the support. If it breaks the channel, it will likely catch support in the support zone...