Today's pattern suggests the SPY will move into a sideways type of stalling pattern. Based on yesterday's rejection off the lows, I suspect we may see some continued upward reversion trending, then we'll likely see the SPY move into a stalling pattern near 579.
Ultimately, the Flat-Down pattern does not suggest big trending will take place today.
Yesterday's price rejection off the lows adds a bit to the overall picture that the SPY may attempt to move away from that lower support level - thus, we may see some upward "melt-up" type of trend today.
But, overall, I'm not confident we'll see any big price trends today. I expect the SPY to stay somewhat flat/muted today. Same thing with the QQQ.
If we do see any big price move today, it will likely be news-related.
Gold and Silver are both sitting near 618 pause levels and continuing to try to push higher. I believe both gold and silver will make an expansion move over the next 5 to 7+ trading days and begin a very solid rally phase. Where gold will attempt to break above $3000 and Silver will attempt to rally above $35.
Bitcoin is still struggling in the Consolidation phase. This wide-range consolidation should continue until sometime near March 19-24.
Don't expect Bitcoin to do much except consolidate into the flagging sideways price trend for the next week or two.
Go get some today.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
Ultimately, the Flat-Down pattern does not suggest big trending will take place today.
Yesterday's price rejection off the lows adds a bit to the overall picture that the SPY may attempt to move away from that lower support level - thus, we may see some upward "melt-up" type of trend today.
But, overall, I'm not confident we'll see any big price trends today. I expect the SPY to stay somewhat flat/muted today. Same thing with the QQQ.
If we do see any big price move today, it will likely be news-related.
Gold and Silver are both sitting near 618 pause levels and continuing to try to push higher. I believe both gold and silver will make an expansion move over the next 5 to 7+ trading days and begin a very solid rally phase. Where gold will attempt to break above $3000 and Silver will attempt to rally above $35.
Bitcoin is still struggling in the Consolidation phase. This wide-range consolidation should continue until sometime near March 19-24.
Don't expect Bitcoin to do much except consolidate into the flagging sideways price trend for the next week or two.
Go get some today.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
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