TradeAlchemy

TradeAlchemy Updated 

On Friday (7/6/18) I tried to short it at the 61.8% Fib with the assumption that it will reverse from there. I was a bit shocked by the rally that pushed this beyond the 61.8%. After evaluating the daily chart, I think we're heading for a test of the 78.6%, and potentially overextend the wave to fill the gap above, which is at the resistance. The Wave C down...

TradeAlchemy

Similar to my SPY analysis - i was a bit shocked on Friday and did lose on my puts at the 61.8% retracement level. I am planning to scalp this overnight and will sell after /ES reaches 24% fib retracement (2771-ish range) If it rejects off the 24% fib, I am planning to long PUTS, predicting another impulse wave down. This wave down may break /ES outside of the...

TradeAlchemy Updated 

SPY failed to break the neckline, closed below the 8MA, and no volume or whatsoever. I see this reversing and retesting the bottom support line. Will the support line hold? With so many upcoming news/ fed rate hikes/rising yield- I believe there is a high probability of SPY breaking the bottom line and work toward the 250 range.