SPY reached the lower pitchfork line (set to Fibonacci level 1.5) a few bars ago and it's likely to bunce back up.
It is still too early to be a buyer, and even as buyers it still would be small positions with limited risk, as we can see a similar setup was happening in 2008, where SPY created hidden divergence but it failed and the Stochastic buried itself in oversold for more than a year. The very same situation could happen now, but I expect a short term bounce, before...
If you start closing ABOVE that 441, and I mean closing candle bodies.. then something has changed. If so, stop out, take that small loss and be patient. It does not mean buy long... it means be patient, wait for a pullback and see what makes sense... I say we come on down by end of the week....... where we close the week will be important though. I say we...
This is just a reflective post, no trading ideas here :-). Today was funny. It really was. Because so many people were so sure that this thing was going to tank today after FOMC meeting and loaded up, prematurely I might add, on shorts, only to, indeed, be met with an FOMC sell off that barely brought us close to yesterday’s prices after the sizeable gap ups it...
Its clear brake out to me, my target was 430, but I am going to extend it to 440. Filled the gap from yesterday (nice trade opportunity:) I am out from my short position completely. China easing on stocks and possible end of war are triggers. JP didn't say anything what wasn't already priced in. Are we still going down; I think yes, but not this week. 440 level...
SPY had been on this strong up trend since the COVID plummet in March 2020. On this chart you can see how it broke the regression trend to the downside. How low... can you go...? Notable things to watch: - The gap that MAY! fill at $400 that can be seen on the daily & weekly time frames. - FOMC this week; for shits n' giggles. - Short term outlook - on the...
Price has been stuck in a descending channel for several months; it is currently facing resistance at the upper end of this channel and looks likely to fall in coming days. Price seemed to breakout past resistance earlier in the day (as it has threatened to do twice before), but this was indeed a fakeout - price has since dropped back into the channel. There are...
weve crossed back below VWMA and rsi diverged bearishly coming off overbought. we will need to see qqe short entry dry up before broder markets come back. id imagine we end the week lower, maybe under 422, and come back up next week to complete the breakout. otherwise, if we break 414 and test some area below resistance trending lower, we could find ourselves down...
Don't worry.. we will be dropping and ending the week with a nice drop.... this shit is hysterical.
Still PRE-FOMC so take this with a grain of salt. What have we seen thus far? Reclaim of 20sma? Kind of... hasn't closed above it in the time period of supportive flows. Where's it at now? Still in pattern of downtrend. My supports as listed for the next few weeks. I'm still short. FOMC may alter short term momentum and price, but medium term --> I think SPY...
WE are heading into a (historic) FOMC Meeting. SPY gapped up yesterday, "semi-positive" vibes from the Kreml + jumping chinese markets pushed it higher. It produced a gap below, but for now we are above EMA 20 on the Daily. As usual during FOMC-days expect a lot of fake-outs. If we will get the 0.25 hike i assume more bullish-pushs - they will have to unwind a lot...
It looks like they want to jerk people around as much as they can. I see Baba is up 20 percent premarket. NIO is up 20 percent. Wynn is up 8 percent. They are going to do all they can to whip around as many as they can. First comes the fake move usually then the real move. Oil popped up but that’s no surprise. USO looked like a buy and I expect a gap up...
This chart marks previous instances of the 50 MA crossing below the 200 MA. While it sounds negative, it seems a death cross has occurred near the bottom of most significant declines.
The current state of the markets appear strikingly similar to that of late '07/early '08, so that is how I am going to play it. Powell and his FED cronies have an interest rate decision this week and as history shows us, the FED seem to always do something at the worst possible time. The market always stays stagnant before the FED meetings/announcements, so we are...
Short Term Elliott Wave View in SPY suggests that the decline from March 03 high is unfolding as a 5 waves impulse Elliott Wave structure. Down from March 03, wave (i) ended at 423.54, and rally in wave (ii) ended at 432.20. the ETF then resumes lower in wave (iii) towards 417.89, and rally in wave (iv) ended at 423.03. Final leg lower wave (v) ended at 414.00...
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$SPY Key Levels, Analysis & Targets OK… FOMC tomorrow @ 1:30pm est. Back to the 4 hour chart… I’ve been on the big timeframes so much -which show so much- but aren’t practical for intraday… Any and all resistances are looking like a great place to add to my short… I just don’t see the bull case right now, not technically, and not fundamentally, or macro...
1d chart shows descending triangle. Most probably going down. I know the strength is more at the end of the day moved it up. Factors: anticipation of interest rates hike.