mistrykam

mistrykam Updated 

Since June-2020 the SPY has not touched the 200-day moving average. Every dip is bought up by some mysterious entity. US Federal Reserve money printing, which is causing massive inflation in the real economy, is pushing the SPY higher. Will the mysterious entity allow for a 5% or 10% correction. Will a 15% correction be allowed? Cash needs to go into...

mistrykam

We are now 35% above 200-day on the weekly chart. S&P 500 is way out of the uptrend channel. Are we going to repeat the 2020 crash again? Getting into the "delusional" stage of the market cycle.

mistrykam

Probability of 5%, 10%, 15% or 20% downtrend. Possible to buy at each level. Maybe take a small position as it hits each target. Trade safe: Use a stop limit and have a plan!

mistrykam

SPY has broken the uptrend channel. Probably a 5% correction to 352. If breaks lower than 352 we could see 336 or 10% correction.

mistrykam

SPY currently in an accumulation zone. Target 380 by late Feb-2020. The market does seem overly bullish, so I think the market makers will let the party ride higher. After hitting the target of 380, be prepared for a 5%, 10% or 15% correction.

mistrykam

SPY is weakening, heading back to 348 level before bouncing. MACD is starting to weakening. Stochastic RSI over-bought.

mistrykam

BABA finding support at 255, could move higher back to 300. MACD has almost recovery, Stochastic RSI has bottomed.

mistrykam

Definitely going lower in the short-term. May bounce off the 150-day SMA.

mistrykam

SPY is turning positive, if we break above the 50-day then a new uptrend is starting.

mistrykam

GOLD in a short-term down-trend. If we break 1844 then it will go lower, towards the 200-day. Otherwise, it could bounce here.

mistrykam

We hit the 50-day SMA, if we break here, we could return to the 200-day at 309.

mistrykam

SPY has formed a triple bottom. If we maintain 332 we could go higher from here. Probably choppy trading at this level. Bull case if above the 20-day, at 338. If we slide under 332, then the bears win this round, and we could drop back to test 310 (200-day SMA on the daily). Keep an on QQQ, it hit the 50-day SMA on the daily (like the 50-day). The tech...

mistrykam

Best buy has a bullish run. Earnings on 8/25 should be strong, however, the price probably will correct and return to the 50-day.

mistrykam

Looks like it keeps bouncing off the 20-day SMA, probably wait until it corrects back towards 131. Or moves sideways to catch-up with the 20-day. Strong up-trend for sure.

mistrykam

SPY will head back to the 50-day, heading to 320, then move higher. From a seasonality view, Sept - October tends to be months where markets correct. Nov-Dec will see another bullish run.

mistrykam

SPY completed a bullish run of over 35%, probably head lower to 290 or further to 265 before bouncing.

mistrykam

QQQ will move sideways before heading back to 234, which may take 12 months to recover.

mistrykam

Reviewing what happened back in 1987 it will be 18 months before return to an all-time high.