gowithetf

gowithetf

SPY has been suspended here in the last few days when all indicators say it is time for a down leg. If you believe the elliott wave 3 count (using tradingview elliott tool) and you project your 4th wave based on time and price guidelines, we could see the SPY at 128 in the next few weeks during an ABC down move. Yesterday was a down day - we need badly for today...

gowithetf

I published this charts a few weeks ago and it appears the the stock is right at the target area for the end of a wave 3. Lets see what happens. Would consider a short here if we confirm this area over the next few days.

gowithetf

A midday look at the SP 500 ETF SPY on the 15 minute chart would suggest that we are in an expanding triangle. We also tagged a longer term resistance line on the upward channel.

gowithetf

I think if we can close above the resistance and the 20 day average on good volume, this gold etf is a buy.

gowithetf

May be heading to a 150.00 on the SPY today. Lets see what the last half hour brings.

gowithetf

The SP 500 15 minute stock chart could be setting up a head and shoulders formation. If this were the case, we would see the right shoulder at $150.69 and a retracement to the neckline $149.40. The height of the head, as measured from the neckline to the head, is our target for the plunge below the neckline. That would have the ETF SPY at $147.75

gowithetf

A nice exhaustion move today would be good

gowithetf

Looking at the SPY intra-day chart (15 minutes) and the last 10 trading days are trading in a clear upward channel. a break below, 147.01 on the downside, would end this upward channel.

gowithetf

The daily chart of the SPY would indicate that we are in a rising wedge pattern. We are also at multi-years high in price. This index has had a strong move from around 1400 to 1485 in 14 trading session where all but three were up days. One would think that there has to be some sort of pullback is over due.

gowithetf

GS looks to be completing a wave 3 of an elliott wave 5 wave impulsive move. GS is also in a downward channel that would normally resolve to the upside. Any comments?

gowithetf

We continued yesterday with our sideways trading within the bull flag. The candlestick pattern for yesterday is either a DOJI or Spinning Top, both are indecisive indicators. The longer this bull flag lasts the longer I see this as more of a consolidation area ready for a move up. A bullish move would be a break of the downward channel to the upside....

gowithetf

The run up from the 134 level to 146 is a flag pole and the price action for the last 4 days is a bull flag or banner. Many times these are times of consolidation after a run and further run up is quite possible. The flip side is that we are at 6 month highs and a rest here is quite possible. Looking at the daily chart of the SPY (S&P500 Index) and I see two...

gowithetf

The SPY broke through the upward channel to the downside this morning on the daily chart. There are multiple support levels on the downside. 145.35 is the first, 144.73 is the second and then if we fill the gap, 142.50.

gowithetf

The S&P 500 had 4 great days with a 5% move up. The first two days were large green candlesticks with the last two days of consolidation and support creating a bull flag. The index would appear that it wants to test the previous highs of 1,471. A long position is right at this time until either the flag channel is broken to the downside or we hit 1,471. A...

gowithetf

For the bearish move, I would watch the action on Thursday and look to go short the S&P 500 by buying the 3x ETF SPXU if we show any indication late in the day that we are going to end with a close at or below today's close ($1,426). The key figures are: Buy SPXU if SPY is at or below 145.70 in the last hour of trading Stop order if the SPY goes against us and...

gowithetf

The indexes have had a great run up today with the political news regarding the financial cliff. The S&P 500 opened the day creating a large gap. At mid-day, the candlestick for today looks like a shooting star with a negative body. This is normally a bearish signal. Another interesting technical indicator is that the high for today tagged the green resistance...

gowithetf

The S&P 500 index had another strong day on Tuesday and closed almost at the high for the day. We have had two strong days and the question is, can it continue. We are still in the upward channel, which is bullish. The next level of resistance is around 94 and then the previous highs of 97. I took profits late yesterday afternoon and had more than a 4%...

gowithetf

Went long today with UPRO