The four phases of the Wyckoff cycle are as follows: Accumulation, where stocks are acquired by large investors during a period of sideways movement; Markup, which represents an uptrend in prices; Distribution, characterized by sideways movement as large investors sell off their stock holdings; and Markdown, indicating a period of downtrend.
Currently, DWCPF...
The SPX weekly chart displays a cup and handle pattern, indicating a projected target of $5525. This pattern suggests a potential bullish trend continuation, with $5525 serving as the projected target price.
This is a long term weekly chart of SPY . A nice parallel uptrend channel started from 2009 after a consolidation (2000-2009) ended at 2009. A downtrend parallel channel also started in 2022. If price wants to fit into the long term uptrend parallel channel , we may see another 18% down.
Now, Red dotted channel could also be possible which shows another 12%...
# Watch the trend on a daily chart
# Price will test these support and resistance zones and double top on hourly chart.
#Most of the time Gaps get filled.
Here I bought a call debit spread on 01/04/2023 with expiry date on 02/17/2023.
Bullish Bias.
Here is the chart with support-resistance and target price zone.
Downward channel based on Pitchfork. Trend based fib extension at 100% is $4288. Pitchfork is also showing a strong resistance in that price level. Price went up last week on low volume.
So, price may go up to $4288 and then pull-back inside the channel.
This is a trend determination chart.
Price is above all the major moving averages (20, 50, 100, 200 SMA).
Supertrend is showing uptrend (Green).
Price is above the Green Ichimoku cloud .
Aroon - Green line crossed above Red line
ADX/DI NYSE:OXY - Di Green line above the DI Red line. ADX is above 25
It generates a BUY signal. To pinpoint entry/exit...
