Wormhole007

Wormhole007

SPY has been in a long-term uptrend , with two major corrections (2022 & 2023) that touched the primary trend line before recovering. The most recent bullish channel (late 2023 - early 2024) has broken downward , indicating a short-term pullback . SPY remains bullish in the long-term as long as it stays above the primary trend line (~$500). ...

Wormhole007

The recent breakdown from the steeper uptrend could lead to a pullback to $550-$530. If SPY holds above $550, it may recover towards $580-$600. A break below $530 could signal a deeper correction. As long as SPY holds the primary trend line (~$520), the bullish uptrend remains intact. If it reclaims $600+, it could aim for new all-time highs above $620+.

Wormhole007

**Three major drops in 2024 were roughly 5.9%, 9.7%, and 4.3%. The current drop is 3.1% so far. ** Price should’t go below $537—if it does, that would be a lower low, signaling a trend change. ** I drew Fibonacci retracement from $537 to the recent high of $586. We’ve already seen a 38% retracement at $567, with the next levels at 50% ($562) and 61% ($556). **...

Wormhole007

Boeing closed above the 20 and 50 EMA. The MACD shows a bullish crossover, and there’s also an 8x21 bullish EMA cross. Additionally, the DMI is showing a bullish cross and the money flow is rising. This presents a wonderful long opportunity. ** It is only chart analysis. It is not a financial advise.

Wormhole007

VXF - The price is currently at a weekly supply zone. It might surpass $176, but then I anticipate a pullback of at least 5% to 7%. The initial support is at $160. If $160 fails to hold, there's a possibility of a sharp decline to the $140 price zone.

Wormhole007

The four phases of the Wyckoff cycle are as follows: Accumulation, where stocks are acquired by large investors during a period of sideways movement; Markup, which represents an uptrend in prices; Distribution, characterized by sideways movement as large investors sell off their stock holdings; and Markdown, indicating a period of downtrend. Currently, DWCPF...

Wormhole007

The SPX weekly chart displays a cup and handle pattern, indicating a projected target of $5525. This pattern suggests a potential bullish trend continuation, with $5525 serving as the projected target price.

Wormhole007

We haven't seen a big sell-off or capitulation. VIX didn't go above 35. Is this bear market going to end without a capitulation?

Wormhole007

This is a long term weekly chart of SPY . A nice parallel uptrend channel started from 2009 after a consolidation (2000-2009) ended at 2009. A downtrend parallel channel also started in 2022. If price wants to fit into the long term uptrend parallel channel , we may see another 18% down. 
Now, Red dotted channel could also be possible which shows another 12%...

Wormhole007

# Watch the trend on a daily chart # Price will test these support and resistance zones and double top on hourly chart. #Most of the time Gaps get filled.

Wormhole007

Here I bought a call debit spread on 01/04/2023 with expiry date on 02/17/2023. Bullish Bias. Here is the chart with support-resistance and target price zone.

Wormhole007

Support zones based on FIB retracement and On balance volume.

Wormhole007

All slow stochastic, CCI, and RSI indicators are giving buy signal. A nice green candle with a large volume yesterday could be a breakout!

Wormhole007

Downward channel based on Pitchfork. Trend based fib extension at 100% is $4288. Pitchfork is also showing a strong resistance in that price level. Price went up last week on low volume. So, price may go up to $4288 and then pull-back inside the channel.

Wormhole007

This is a trend determination chart. 
 Price is above all the major moving averages (20, 50, 100, 200 SMA). Supertrend is showing uptrend (Green). Price is above the Green Ichimoku cloud . Aroon - Green line crossed above Red line ADX/DI NYSE:OXY - Di Green line above the DI Red line. ADX is above 25 It generates a BUY signal. To pinpoint entry/exit...