Attempt To Make The Most Accurate Forecast In TV HistoryPurpose of this post: to make the most accurate near-term forecast in TradingView History
- Expectation is that SPY trades along the BLACK arrow/path over the next couple days
- Banking on a big gap up Monday 1/29/2024
Summary:
* Initial Target = 492 by Tuesday Jan 30th
** Goal Target 494-495 by Wed. Jan 31st
In order to avoid the need for anyone to post a slick comment about the lines on this chart (Ha Ha Ha) I'm posting my exact forecast (below). I use these lines to draw the forecast, they are systematic and necessary. Refer to the following:
1/26 9:30am EST - gap to 491 (it will hit 491 within the first 15 minutes of trading)
1/26 10:15am EST - drop to 489
1/26 10:30am EST - bounce to 490
1/26 11:30am EST pullback to 489.65
1/26 12:00pm EST - bounce to 490.91. From here we will see continuation higher to the following levels:
1/26 1:15pm EST - Hit initial target = 492
1/26 3:30pm EST - Hit Goal Target = 494
~ 492 will hit 1/29 with high probability. If 494 doesn't hit yet on 1/29, it will hit on 1/30.
SPY can extend slightly above 494-495 range to around 497, but there will be sellers in this range. After targets are hit this will pullback to test the gap level around 491 by 2/2/2024. I'll send an update at that point.
I'm currently in the following calls that I bought before the bell Friday 12/16:
Jan 29 490 calls (cost = 0.28)
Jan 29 492 calls (cost = 0.07)
Jan 30 492 calls (cost = 0.31)
Jan 31 494 calls (cost = 0.45)
After hitting initial target of 492 I'll be taking profits on half my total position. I'll take profits on the rest when this hits 494-495 (will keep a few calls open to see if it can wick 497).
