SPY/QQQ Plan Your Trade For 9-13 : Rally DayPlease take a minute to watch this video, and possibly some of my earlier videos from this week, as we continue to see the SPY, QQQ, and Bitcoin continue to move through an Excess Phase Peak pattern.
It is very important for traders to understand the eventual A/B outcome of the Excess Phase Peak pattern. For the SPY/QQQ, we are still flagging into what is very likely to be a rolling top pattern - setting up a broad downward price trend in the near future. The only thing that can stop that rollover top is a rally to new ATHs (which can happen to invalidate the Excess Phase Peak pattern).
Because of these pattern setups, it is important to see were the SPY ends this current rally phase and if the SPY can rally above the recent ATH levels or not.
Gold is moving into a temporary topping pattern above $2600. I would think the 2613 level would be the ideal topping level for Gold - but I would expect Gold to struggle to move up to the 2613 level at this point.
Bitcoin is showing an inverted Excess Phase Peak pattern. I go into detail about this pattern and what we need to look for over the next few weeks.
Ultimately, I believe the markets are moving into a transitional price rollover ahead of the election.
Plan, prepare, and Get Some.
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