SPY/QQQ Plan Your Trade 8-20 Update : No Bozu YetPrice needs to make a move if we are going to see a Bozu Trending bar today.
The levels I drew in the morning video were perfect (so far). We have seen the SPY do nothing most of the day and that means price is likely shifting away from trending - into Flagging.
My expectations are for price to attempt to setup a high/low range over the next 2~3 trading days, then move into a consolidated/sideways flagging formation.
This is a great time to prepare for the next big move (next week) and to try to plan your trades around this Flag/Base type of formation before the Vortex Rally sends the SPY higher.
This video covers SPY, Gold, BTCUSD.
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ES
SPY/QQQ Plan Your Trade For 8-20 : BozuTrending Counter-TrendToday's Bozu Trending bar in counter-trend mode could be very exciting.
Bozu trending bars are typically relatively large and represent a strong price trend.
As we move closer to the upper GAP window, we may see the SPY rally through that window today—or we may see the SPY pull downward, away from that GAP, and attempt to retest support near 552.
Please watch today's video because the Counter-Trend mode of the Bozu pattern suggests we may see a downward price bar today.
I've highlighted two key price areas we need to watch regarding which direction the SPY will attempt to trend today. If we stay within those two price levels - price will stay muted today.
Otherwise, I expect the markets to BIAS to the upside but counter-trend to the downside.
It should be an interesting day for trading.
Gold is RIPPING and Bitcoin appears ready for a ripper rally.
Get some.
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Bulls Say "Can't Stop Won't Stop" - S&P 1% from All-Time HighsIt's as if the markets couldn't wait to open on Monday and continue what they've been doing for 9 of 11 trading days - push higher.
S&P +.96%
Nasdaq +1.31%
Dow +.58%
Russell 1.22%
For a Monday, it was a pretty directional day.
Wed-Fri is when the US news hits (FOMC Minutes, PMI, Jackson Hole, Powell Speech) so let's see if the party bus continues to rock until something forces a pause.
S&P is a mere 1% off of the all-time highs. All of these comebacks are mighty impressive considering it's the bears that usually accelerate the direction - these bulls are highly motivated.
SPY/QQQ Plan Your Trade For 8-19 : Gap Potential (Consolidation)This short video shows you why I believe the US markets will move into a consolidation phase over the next 5-7 days. This phase will likely represent moderate volatility with a Bozu Trending bar on Tuesday (8-20).
That Bozu Trending bar may be very explosive in price range.
Sit back, wait for the lows to setup over the next 5+ days and position your trades for the bigger Vortex rally phase setting up in about 7+ days.
If my research is correct, by 8-26 or so, we should be moving back into the Vortex Rally phase again.
Gold, Bitcoin, Silver, SPY, QQQ and others will likely consolidate this week unless there is big news.
Get some.
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8.18.2024 Weekly Pre-Market Analysis S&PThis is my Weekly Pre-Market Analysis on the S&P>
Right now we are going to wait for market structure to form.
We saw lower highs and higher lows form on Friday after the last bullish move up. So we do not have a clear direction as to which way if may head.
We have a plan for a SHORT position as well as a plan for a LONG position.
We just need to watch the LOWS & HIGHS form on the 15 minute chart, before we even think of getting into a trade.
Markets Love the Bulls!!! Close to All-Time HighsS&P pulled back 78% of the fall
Nasdaq pulled back 61% of the fall
Dow pulled back 78% of the fall
IWM pulled back 50% of the fall
Impressive rips for 2 weeks of trading for the "buy the dip" community. This week's direction was steady in futures, and gaps higher in indexes from opening to closing bell. I'm keeping the charts as clean and simple as possible. September and October are rarely good months for the markets so perhaps all-time highs are a bit of a stretch, but we're much closer now than we were August 5th when everyone was freaking out.
Upcoming news for next week:
FOMC Minutes
US PMI
Jackson Hole (with Powell Speech)
My defensive plays are focused through August and September expirations, but I'll likely continue to add hedges if appropriate.
Have a great weekend and back at it next week!!!
SPY/QQQ Plan Your Trade Update For 8-16 : Inside BreakawayThe move in the SPY today is very consistent with my Inside Breakaway SPY Cycle Pattern.
Additionally, the move in Gold is exactly what I predicted would happen over two weeks ago. A dual-leg rally up to $2550.
Now, we'll watch Gold rally above $2600 as this second leg appears to have considerable momentum.
As we close out the week, I do suspect the SPY will attempt to create a right-shoulder for an inverted Head-n-Shoulder pattern next week. So, be prepared for the SPY to possibly consolidate and move downward a bit before attempting another rally phase.
My SPY Cycle Patterns tend to agree with this changing cycle phase in the SPY - so there is some consistency related to a right-shoulder setup.
Overall, this has been a tremendous week for traders.
My research has continued to deliver great results for my followers and the big move in Gold has been incredible.
Next week, we'll do it again.
Get some.
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SPY/QQQ Plan Your Trade 8-16 : Gold Rips - Stocks StallThis video highlights why I believe today's Inside Breakaway may come with some surprises.
As Gold rips higher (check out my recent Gold videos) and the SPY really broke higher yesterday with a huge upward GAP and rally, I believe the SPY will stall a bit today and attempt to move higher near the end of the trading day today.
I don't believe the markets go straight up or straight down.
This big Deep-V recovery has run into resistance and I believe an inverted Head-n-Shoulders is likely to setup.
You'll see what I'm talking about in today's video.
What this means for SPY traders is to stay cautious today. Short - Quick trades will be the key to success.
Don't get married to any bigger, longer-term swings in price today.
It is all about getting in and out quickly and efficiently.
Gold, on the other hand, could rally to $2620 or higher over the next 5+ trading days.
Watch the US Dollar and BTCUSD as the Hedge Trade appears to be very active right now.
Get some.
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2 Weeks of Recovery - But Seasonality Lurks in Sep/OctMonday - UP
Tuesday - UP
Wednesday - UP
Thursday - UP
SPY has put together 2 weeks with 20+ points from low to high eclipsing the averaging 14/15 point average true range for the week - it really is wild stuff!!!
I try to make some sense of everything today with an inverse cup & handle pattern on the SPY/SPX/ES levels. I dive into September/October seasonality and upcoming news for the US. PMI next week and Jackson Hole. More employment news and PCE before the month ends with NVDA earnings.
CME Fed Watch Tool showing a 76% probability the FED will cut 25 bps September 18 and we will still see more news on employment and inflation come in before the official FOMC meeting.
Actively trading, cautiously bullish, a bit surprised by how motivated this market is to recover. If there's any hesitation, it would make sense technically. I'm not interesting in calling tops/bottoms, I'm just interested in good levels to trade.
Thanks for watching!!!
SPY/QQQ Plan Your Trade 8-15 : Where's The Counter-Trend MoveIn this video, I explain how news or data-driven events can substantially obscure the SPY Cycle Pattern price trends.
My SPY Cycle Patterns are predictions based on Fibonacci & Gann cycles. They attempt to predict typical market price characteristics and trends.
When some outside news, data, or other event hits that changes market dynamics enough to drive price in a stronger upward or downward trend, the SPY Cycle Patterns may invalidate or get skewed behind the momentum of the "event" trend.
With today's price bar, I believe the closing of the European markets (near Noon in NY) and the end of lunch in NY have a much better chance of seeing prices fall back into the counter-trend Carryover pattern I predicted for today.
That means, this afternoon, we may see price roll downward and attempt to move back towards support - just like I would typically expect to see with a counter-trend Carryover pattern.
Let's see what happens.
Get some.
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SPY/QQQ Plan Your Trade For 8-15 : Huge Bullish Gap On DataPlease take a minute to watch this video and try to understand why this big bullish price gap is data-related.
Today, the data suggests Retail and Manufacturing are still clicking right along.
We are not seeing any big decline in the US economy, and that means the US Fed will not consider dropping rates as inflation levels seem to be elevated.
This is also part of why I believe the US economy will "decouple" from many global economies over the next 12 to 24+ months.
If you remember, I suggested a VORTEX RALLY would start near the end of July 2024.
Well, guess what is happening now?
The US markets are setting up a BASE for the Vortex Rally. We are not in lift-off mode yet. We still need to be cautious of any potential news event (political or otherwise) ahead of the US POTUS election.
Once we approach or pass the US 2024 election, I think we'll be able to be more aggressive about continuing the Vortex Rally phase.
FYI, I will be flipping to BULLISH tomorrow.
Get some.
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SPY/QQQ Plan Your Trade For 8-15 : Counter-Trend CarryoverA Counter-Trend Carryover pattern is a "coasting" of price in an opposite trend direction.
So, for today, I expect the price to stay somewhat within yesterday's range while trending downward.
I don't expect yesterday's lows to be broken/breached - although it could happen.
I believe today will be more like a pause in price before attempting another move higher.
Today's pause may be very mellow in structure/size.
I believe the SPY/QQQ are biased to the upside, so I expect this price pause to stay above recent support levels.
Watch this video to see why I believe the recent upper range of the Gap will act as firm support for an upward price move into next week.
We have to wait for the markets to return to Trending mode.
60% of trading is WAITING for the opportune setups.
Get some.
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It's a Bull - It's a Bear - It's Time to Make Up Your Mind3 straight weeks of setting from mid-July crescendos with a crash August 2. But the "crash" was met with a vicious buying spree that now places the major index 50% of so from the large high to low swing. In this video, I breakdown the technicals and scenarios trying to make some sense of where we could be heading. We are mostly through Q2 earnings. PPI and CPI prints have been digested (market likes it mostly). We still have retail sales and unemployment claims this week and if the market reacts bearish, it's a pretty obvious sign the market is more concerned about a softer labor market and recession than it is inflation. If the markets reacts bullish and continues to grind higher, we may be looking at another incredible V bottom without the FED having to do anything - which would be a surprise :)
I'm cautiously bullish and believe the market will struggle to blow through all-time highs, but it's possible we still test and sniff them out, though unlikely it will be broad. More about big money moves are cutting positions in Mag 7 so a true broadening will be a nice change of pace instead of a highly concentrated Top 10 carrying the overall market.
Enjoy the video and thanks for watching!
SPY/QQQ Plan Your Trade For 8-14 : SPY 8 Day ForecastAt the request of one of my followers, he asked what to expect going forward into next week for his swing trading efforts.
That is one of the great things about my SPY Cycle Patterns - they can assist in "what may happen" if we consider them somewhat accurate and reflect future price bar characteristics.
So, to help him and others, I looked at the rest of this week and next week to highlight what I believe is the most logical outcome for the SPY for the next eight trading days.
I will warn you that my expectations may not efficiently represent price range (or price target objectives). I've learned that I may expect price to move to a level or area and watch it move well beyond my expected target levels.
So, be aware that price may rally or contract well beyond the levels I'm showing on this chart.
What should be somewhat accurate is the SPY Cycle Pattern prediction of how price will react each day.
I find these Cycle Patterns to be about 75-85% accurate as long as some outside news or crisis event drives prices in some panic trend.
That said, here is an outline of what I expect to see happen over the next 8+ days on the SPY.
I hope you enjoy it.
Get some.
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SPY/QQQ Plan Your Trade For 8-14 : 540 Support Set For RallyPlease watch the other morning video I created before the markets opened.
I suggested the SPY would move downward and try to find support between 539-540.
It looks like the SPY has established a low just above 540 in early trading and I believe this low may have set the BASE PRICE for the day.
Obviously, price could continue to push down into the 539 area, but, it promising on my charts that price is contracting, pulling downward a bit, in the midst of a SPY Cycle Pattern RALLY day.
Now, we need to see how the RALLY is going to setup and if we are going to attempt to move above 545-546 today.
Get some.
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SPY/QQQ Plan Your Trade For 8-14 : Today Is A RALLY DayToday is a RALLY day on my SPY Cycle Patterns.
After the recent base/bottom in the SPY and the subsequent reversion to the upside - I expect today's rally to be somewhat muted in size. I'm not expecting a large range rally bar to form today - although it could happen.
The reason I'm not expecting a huge rally bar today is because we've already seen a very strong upward price move - particularly yesterday's Breakaway pattern.
I see the markets right now: they've already moved substantially higher (more than 61% of the recent downtrend) and are likely to stall out a bit before attempting to move higher.
Price never moves in a straight upward or downward trend. There are always pauses, pullbacks, or countertrends along the broader price trend, and traders need to expect them as the broader trend plays out.
Today, I'm expecting the price to attempt to melt upward but, at the same time, reflect a "pause" in the rally phase—essentially, slow down the rally phase a bit.
I do believe the IWM (Russell 2000 ETF) may offer traders a great opportunity. The undervalued sectors have been weaker than the main US Indexes. The Russell may trend broadly higher today in an attempt to play "catch-up" with the other indexes.
Gold may be making another big move higher - possibly starting the second leg upward.
Get some.
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The Rip you Short? or the last Dip to buy?Last week's decline DID NOT BREACH THE APRIL LOWS . To be 100% objective, as long as price is above the April lows, we still retain the ability to make one more high. That is the purple arrow on the above chart. Price will need to breach 5587 in pretty much a straight shot now, as this would be a wave 3. However, that is not my primary analysis.
My primary analysis is the ES Futures market is in the final stages of it's minute circle b-wave. that should complete in the target box on the chart. From there, price should be declining in minute circle c-of Minor A. In the ES that should be in the area of the April lows, or slightly below 5,000.
Best to all,
Chris
SPY/QQQ Plan Your Trade Update 8-13 : Perfect Breakaway RallyToday's SPY Cycle Pattern, the Breakaway in Trending mode, appears to have been a perfect call for today's price action.
We have seen an impressive rally take place all morning long.
I know it's hard to believe my SPY Cycle Patterns can predict a market trend/rally like this, especially when you consider these predictions are made months and years in advance.
But when you look at how price plays out most of the time, these patterns actually predict market price characteristics as long as some type of panic or crisis mode doesn't intervene.
Tomorrow's rally pattern should be more like what we see today.
Get some.
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SPY/QQQ Plan Your Trade Update For 8-13: Breakaway GAP RALLYWatching the markets this morning, it was very clear the SPY Cycle Pattern prediction of a breakaway pattern setup cleanly with the morning bullish price gap.
Now, we get to watch as the markets struggle to move above recent resistance channels (and Fib retracement levels) as the Vortex Rally base continues to build.
I find it very interesting to watch so many other analysts continue to predict a CRASH.
What changed over the past 5+ weeks?
- A different candidate for the elections?
-- the US elections were in question many months ago.
- Bank Of Japan indicating they need to aggressively support the YEN?
-- the US Fed rate hikes were already putting pressure on global currencies and economies.
- Conflicts in the ME (as that situation continues to work itself out)?
-- The Israel conflict has been ongoing for more than 40+ years. Israel is doing what it must to defend itself from multiple aggressors.
- What else?
I simply don't get why so many other people seem to think the US markets are, somehow, going to absorb all of these foreign market economic & currency issues.
So what, Asian currencies weaken further over the next 24-36 months. How does that detract from the US economy?
So what, the Canadian dollar weakens further and their economy moves into a recession. If you remember correctly, the Canadian economy was super-heated pre and post-COVID (at about 150% of the US economy). It is almost essential for the Canadian economy to contract after a massive speculative bubble.
So what, other foreign markets struggle to defend their economies and currency values as we shift/settle into a more defined global structure. The decoupling of these global economies is actually a very healthy component of what is taking place throughout the globe - monetary contraction.
We need to see this type of monetary contraction in order to move into an organic growth phase. The US Fed and global central banks kept the world's economies on a high over the past 10+ years with easy rates. Now, we need to settle back into more normal rate/economic function.
And I still believe the US economy is the strongest, most dynamic, and most capable of growing over the next 24-36 months while the rest of the globe "settles into a base".
Get ready for a Vortext Rally in the US/US-Dollar.
Get some.
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SPY/QQQ Plan Your Trade For 8-13 : Breakaway May Pause A BitThis morning's video covers the SPY, QQQ, Gold, Bitcoin, IWM, and more.
I suspect today's Breakaway pattern will result in a moderate pause before the markets attempt to move higher.
I still believe the US markets are shifting (decoupling) from global markets a bit, and we are amid a mild "shakeout."
I believe the US markets must settle (establish a base) before the rally can continue.
Ultimately, what has changed over the past 90 days is nothing other than the fact that we have a new dynamic in US politics, and the BOJ has warned that the US Fed's rate decisions may put extreme pressure on foreign currencies.
Get ready for a bit of a sideways slide before the markets resume trending (I believe upward) again.
Get some.
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SPY/QQQ Plan Your Trade for 8-12 : SPY 10 Min Flagging/BreakoutThis update shows you why I believe the SPY will resolve the current Flag formation into an upward price trend.
The Vortex Rally base will likely continue to setup over the next 5+ days. But the 531-532 level on the SPY is proving to be a strong support area and as long as this level is not broken - we should see the SPY attempt to rally back above 545-550.
It is all about timing the move and staying patient while the SPY/QQQ settle near this base.
I'll continue to post more updates as price trends.
Get some.
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SPY/QQQ Plan Your Trade Update For 8-12: Vortex Base Building This is a quick update suggesting that the upward momentum in the US markets appears to be fairly strong. But I urge my followers to stay cautious.
The markets are not "cleared for lift-off" yet. We still have numerous Fibonacci resistance levels to break, and we could see the markets move into a broad sideways FLAG formation or break downward again to establish a deeper low.
Within this video, I share what I believe is essential for the markets to move into a confirmed "lift-off" mode.
Please be patient. If we stay patient and protect capital, there will be many opportunities for big swing trades.
Get some.
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SPY/QQQ Plan Your Trade For 8-12: Gap/Breakaway PatternWatch this video to learn why the Vortex Rally is building a base and why it is important that price stay above the 0.382 and 0.50 Fibonacci price levels as the base forms.
You'll see how these Fibonacci price structures are key components to all of my research and how to use them efficiently.
Fibonacci Price Theory teaches us price is always attempting to reach new highs and/or new lows. Additionally, price moves in only two modes : Trending or Flagging.
When you completely understand the mechanics of price and how price attempts to operate (see above), then you can pick apart charts very easily.
Currently, price is moving higher (establishing new higher highs) and may attempt to break through the downward 0.382 & 0.50 ceilings as the Vortex Rally base continues to build.
Stay cautious this week as we may see extended price volatility. There will be a huge opportunity (sweet spot) for traders over the next 60+ days to catch more of this big Vortex Rally phase.
Get some
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