SPY on a 30 minute chart shows a rising wedge over the past week. Price is now under a nearly flat upper trendline of resistance while the support trendline is rising. The dual TF RSI indicator shows strength about 70 while the zero lag MACD shows a K /D line cross. Because of this I believe, SPY may retrace to 468 or the level of the Fib 0.5. Since SPY is...
Expecting a correction in SPY between 23% and 28%. CPI next month highly to be more than 9.1%.
The weekly chart bars show that my previous analysis is still in play. The past week plus kind of threw me as we blew through the bottom of my wave 1. I am not sure if the move (2/22 -3/14-now) is a 4 or a B but either way the next couple of weeks are going to be overall red. I will post a follow up analysis of what I think these two weeks will look like. I...
WE ATE NO KAP called out from the TOP! TPFAMILY.ORG JOIN THE FAMILY!
Green lines are major support lines which cause them to be Potential profit targets where we can bounce the red is our stop loss This is a high risk high reward play especially since the market is booty rn BUT Below $459.28 is a safe zone Less Risk if you enter here
In Elliott Wave Theory there are only two kinds of moves: Impulses , and Corrections . We can all agree that since November, this grind up is not an impulse, which means... that this is a correction. Wave B's are nicknamed "The Suckers Rally" and boy are there a lot of suckers, including myself lol. VPVR points to a retest of last years high (big money buy...
SHORT THIS MARKET it doesn't make any sense here with continuous up move even though there's no new factor or reason to push this market any more up...!!!! This market and people are in hallucinations or euphoria of biden winning.. can't say but this is shit !!! I have closed my all long positions. Today expecting atleast 10% pull back here as per rsi and macd!!!
Short and concise as all of my charts are. I believe in the methodology of coming up with a fundamental approach to reading the charts, and simply test these beliefs with TA to either confirm or reject the fundamentals. This late-week rally leading into the weekend has A LOT of stipulations involved which is why it is very difficult too identify a clear and...
Rising Wedge looks to be complete, we should be looking to see some more downside movement. If this picks up we may see the "3rd Wave"
Rejected backtest of ascending triangle all week, rr with shorts. Stop loss above trendline. Falling below 50DMA (Green line) and losing it is good news for bears! Piggies oink oink, ready for slaughterhouse.
200dma weekly is absolutely crticial level. Also aligns with 50dma on the monthly. Short the sp500 on break below 200dma. Could take a few weeks to officially lose it. End of q1 coming, US Earning might provide some minor relief and i would short those pops, as China and other asian countries will not be so positive. After some earning and the picture becomes...
Chart Details Weekly view shows price touching 10WeekMA. (same as SPY but inverse obviously) Price cross above 10Week should confirm uptrend to gap fills. Price above aqua blue line confirms uptrend to EMA cross. Price above yellow line and look for upper gap fills. Gaps to fill up to $17 Stop $13 Target $16 Money Patterns member alerts for this trade had...
Chart Details Weekly view shows price touching 10WeekMA. Price cross below 10Week should confirm downtrend correction. Gaps to fill down to $294 Stop $325 Target $300 Opinion – Coronavirus will increase and so will the bearish sentiment. Money Patterns member alerts for this trade had 40%+ next day returns. About Me www.moneypatterns.com Options Strategies,...
Chart Details Small pullback today. Bullish EMA cross and Bullish 10Week Cross stacked up. Very close to crossing will confirm bullish trend. Gap fills to $15/$16 conservative estimate. Weekly trend confirms bullish trend. RSI on Weekly confirms pattern breakout. Stop $12.50 Target $15 About Me www.moneypatterns.com Options Strategies, Video Technical...
Chart Details 4HR view shows heavy sell volume and bearish EMA cross. Weekly and Daily view both show bearish trend. Most important Weekly – bullish trend since Sept. Bearish EMA cross on Daily should confirm at 3250 Target for exit 3191 Watching RSI around 46 for exit bearish, enter bullish About Me www.moneypatterns.com Options Strategies, Video Technical...
Chart Details Price on Daily broke out of banana pattern. Bullish EMA cross on Daily should occur with Daily close over $12.81 Weekly trend very close to bullish flip. When this occurs, $14 conservative price target. 10WeekMA cross around $13.50 should continue to fill gap at $15. Opinion We are long overdue for a pullback. Coronavirus now in 4 countries. ...
Trade Entry Anything at $12.80 or below is a great entry price as hedge. I am putting some wishful orders in the $12.34 area and below just in case. Chart Details Banana pattern almost at end. I think the last Daily Bullish candle gave us a better contact point with $12.59 low. The current downtrend without significant uptrend has occurred over 3 months....