wjw37238c0d7f90f2d24374

wjw37238c0d7f90f2d24374

If it happens, reduce my position a little at each of these stops.

wjw37238c0d7f90f2d24374

Going below 2967 will create a lower low, which means bigger correction.

wjw37238c0d7f90f2d24374

Today might close at 308

wjw37238c0d7f90f2d24374

Will it go further down or will Fed appear before close today? So far a healthy pullback.

wjw37238c0d7f90f2d24374

Guys I think at least 2 of the 3 gaps have to be filled. The Law of the gravity said so.

wjw37238c0d7f90f2d24374

Lots of people focus on the 10 day short term down channel with a bearish view. That's if you are doing day trade. With Feb printing moeny, there is no way USD will be worth more than gold in the long run.

wjw37238c0d7f90f2d24374

Now is not a good time to enter for SPY.

wjw37238c0d7f90f2d24374 Updated 

More fresh money means gold is worth more. Stock rally pushed by un-nature force. It will fade and will go down to close the gap created today.

wjw37238c0d7f90f2d24374

double bottom is strong support.

wjw37238c0d7f90f2d24374 Updated 

The V-shape recovery in 2019 reversed in early May with a 7.7% pullback. So I think that would be a minimal target. A 7.7% pullback from the recent top is 2721. However that is only 30% down from the recent top. At 38.2%, the target becomes 2666. At 50% the target is 2573. At 61.8%, the target is 2485. I am no looking beyond 61.8% unless Fed is giving up.

wjw37238c0d7f90f2d24374

Lots of room to grow even within the current channel.

wjw37238c0d7f90f2d24374

Wedge is getting narrower

wjw37238c0d7f90f2d24374

Monday should be an up day. Will go sideways to consolidate before going up again.

wjw37238c0d7f90f2d24374

RIS might create a top which will help formation of the SPX top.

wjw37238c0d7f90f2d24374 Updated 

Falling below the trend line switches to the lower channel -- still up.

wjw37238c0d7f90f2d24374

SPY under lots of pressure from the down trend, as well as 200 DMA etc. However it did break above 50 DMA. RSI showing break out from the down trend. Best case would be sideways move for a few days/weeks before an up/down decision.