Hey everyone, Going into next week, it seems like we my start with selling first. Going into Monday probability is particularly bearish. Based on the assessment of the week it actually seems like we can expect dramatic moves in both directions, so if we head down first, I would expect the CPI catalyst to move us back up. Vice versa if we start bullish. Though,...
This chart uses symmetric trajectories from the early distribution phases to estimate the path price will take to initiate markdown. Initial target = 506-508. If SPY finds resistance at 516 then the initial target could hit by the end of this week (5/10). If SPY breaks above 516 it should find resistance at 518-520, and then the initial target will be delayed -...
Target 12 As you can see, SQQQ RSI (9) never has been so low in this time frame ....8 Market is ultraoverbought and I expect a huge reversal. Regards,
AD running a bearish cypher pattern on the 4hr. Also money flow/AD peaking with price action. Price action also hit my 1.618 fib level which is bearish. Money Flow and AD needs to breakout above b leg, however the down trend looks In tact. Short term bearish outlook.
Surprised to see IWM fairly restrained in this upward trend as long term interest rates dropped significantly on todays CPI report. Really expect to see a quick catchup over the next few days as SPY and QQQ make new highs.
AMEX:SPY May 15, 2024 15 Minutes The SPY is not retracing. It is resolving divergences and aligning moving averages through sideways movement. Now as expected once 522.75 was crossed we are back in business. I will consider two numbers. The rise from 515.15 to 532.582 and 520.56 to 523.82. Maintaining a hold at 518.5 is crucial for the former, while for the...
The correction??? In my opinion and chart theory suggest its time to go long and find the proper to stocks to be in Subscribe for update stock pick and the best sectors to be in so your not left behind!! as for todays daily chart set up I suggest calls at least a week out as chart indicates Goodluck traders like and subscribe as for members that listened and got...
QQQ made a new ATH today and may close even higher. I think it will run up until it retests its ascending channel from earlier in the year.
The price of uranium, known as yellow cake, has more than doubled in the past year amid a significant imbalance between supply and demand in the global market, sending uranium-related assets soaring to the sky. In addition, the return of Japanese appetite for carbon-free energy and the restart of two nuclear reactors last year, along with plans to restore more...
AMEX:SPY getting spicy here, looks like a triple top for now headed into a lot of world news, ie Iran/Israel/Biden ... I think we've been overdue for a correction, this is a VERY solid base to start a downtrend and fill some gaps before heading back up for Trump Presidency... Buy the rumor stuff... No positions, will look for continuation tomorrow... - Prof
AMEX:SPY May 16, 2024 15 Minutes. AMEX:SPY opened gap up. Since long was confirmed as the rectangle was broken out the previous day, i waited for a good close of bar. I bought around 527. I had earlier marked the extension for the range 515 to 522.66 to 519.74. This gave a 1.618 target as 532. For the day, since I always believed gaps are strong if not...
RSI divergence, fading volume on rising price, leave us….untrusting….neutral is our position.
After confirmation of control in the first days of May, bulls enjoyed their dominance. The market opened with a gap up on Monday, rallied throughout the entire week, and closed very strongly within the top value area. There was some profit-taking on Monday, but sellers were not able to push the price even below the previous day's high. At this stage, there are no...
Elliot Wave finished forming the A of ABC correction just on the fourth wave of giant minor E.W. D1 t.f.. Two sets of abcde waves finished and builded a complete smaller abc correction, giving open doors for a bullish momentum. Trend still can continue until 300% of E.W. fibonacci. fibonacci is between the 0 and 2 of E.W., starting from 50% instead of 0. It...
Gap Ups can occur past a range that experienced previous consolidation in attempt to continue to challenge the next price zone. SOXL made a strong move up to a previous zone of resistance. look for prices to jump into the $48.16 to $50.98 area marked in the purple square. The Linear Regression + RSI indicator had a potential bottom signal without confirmation of...
One of the most hated market currently and some called it uninvestable, the China market has plunged more than 60% from its peak. We are now at an inflection point again, reaching the upper side of the decreasing channel. I believe the property market will take some years to recover , with excess supplies to clear and consumers continuing to adopt a wait and see...
Many of you are confused on the recent price action of the market. When in doubt, zoom out. Pay attention to the next fib level and pay attention to GOLD & OIL. Feds only cut rates during market turmoil not during bull runs. To keep it SHORT and sweet. It doesn't end well for risk assets. On the other hand, have you seen the prices of cocoa??? Insane!
GLD Cup and Handle - 4h indicating bullish, target 230, when? we don't know