OsmanDiaz

OsmanDiaz

SPY has been coiling since its recent swing high on April 20th and has been forming a subtle rising wedge pattern (red trend lines) due to relatively weak challenges of resistance over the last two weeks. I am VERY short term bullish based almost entirely on the pattern that formed at the end of the day and think SPY will bump up against the top of the wedge...

OsmanDiaz

This has been an incredible week for the markets in general and SPY was certainly not left out. After the steep declines that we saw last week, I think traders will be looking for some relief from the downward pressure. That being said, we might see some accumulation at the start of the week and perhaps even a bounce back up to $194.00 on Monday or Tuesday. ...

OsmanDiaz

After the brief bounce we saw today, it seemed like buyers just were not able to muster enough momentum to derail SPY's downward move back below $200.00. As of 11:38 PM ET, /ES minis were trading 17.50 points down which could spell trouble for SPY with a significant gap downward Wednesday morning. If SPY opens below $200.00, I think the ~194.00 target is pretty...

OsmanDiaz

Wow did that happen fast! I had assumed SPY would take a moderately aggressive slide from last Thursday's close, but it looks like China and the Shanghai Composite (XGYO) really shoved it over the edge. With the large gap down at the open and sellers controlling the market for most of the morning, it looked like SPY was doomed to close under $200.00. However,...

OsmanDiaz

This post is very similar to my previous post regarding SPY (See "Links to Related Posts" below). I am very bearish on the DOW overall and I think we will see that translate into selloffs of DIA to retest the $171.00 level. The trading during the shortened New Years week was lower in volume, but still indicative of an overall bearish sentiment in the market. My...

OsmanDiaz

First, I hope everyone here on TradingView had a Happy New Year! My first post of the year is a very bearish one for SPY with the week ahead looking at selloffs to retest the $200.00 level. The trading during the shortened New Years week was lower in volume, but still indicative of an overall bearish sentiment in the market. My forecast is that Monday or...

OsmanDiaz

I am starting to get a little nervous after re-charting the impressive gains made by $SPY today. In my last post on Sunday December 27th, I thought SPY was going to continue its downward leg to fill the gap between ~$204.75 and $203.75, which it very nearly did on Monday. However, it quickly erased its early losses and formed a green hammer pattern by the close....

OsmanDiaz

This is my first published "idea" to TradingView so bear with me as I tend to get a little wordy. As I see it, the end of the year is almost always volatile and this will be especially so with the shortened week. Also, fund managers are going to be keen on cashing out before the tax year end to help lock in any profits, boost their bottom line, and keep any...