SPY/QQQ Plan Your Trade Update For 9-17 : Wednesday is Critical
If you were paying attention to my SPY Cycle Patterns today - boy, a beautiful "top" pattern setup today. Just like my SPY Cycle Patterns predicted more than 3 years ago.
If you've been following my research, you already know I've identified dual excess Phase Peak patterns that should resolve into a rollover topping pattern, sending the SPY/QQQ moving downward towards the end of this week (Sept 19-20). If the current Ultimate High price level continues to act as resistance, there is a real potential for the SPY/QQQ to move into a downward momentum breakdown the following week (Sept 23-30).
But, the one thing that throws the whole topping pattern into a mess is that the RSP has already broken to new ATHs and appears to be attempting to hold above the previous high-price fractals. Thus, we are seeing the equal-weighted S&P already moving into a broad value-based rally phase.
Watch this video to understand why I continue to suggest traders avoid engaging in any big trades or get greedy, thinking they are going to WIN BIG on their trades. Yes, I'm sure some people will hit their targets over the next 3-7+ days, but others will get run over (hard).
Unless you really like taking the risk of getting run over by the markets or market makers, I suggest sitting back and reading a good book while the markets or traders struggle to find their exits.
One thing is certain: the markets will move into a trend by the end of September—either into a breakaway rally phase or into a rollover topping phase.
You'll have lots of time to position for these trends because my research shows the next cycle phase is October 7-10 (nearly two+ weeks away).
So, why stress out about tomorrow's Fed Rate decision? Just sit back and wait for the markets to give you a clearer understanding of what's next.
I'll create another morning video tomorrow morning.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
If you've been following my research, you already know I've identified dual excess Phase Peak patterns that should resolve into a rollover topping pattern, sending the SPY/QQQ moving downward towards the end of this week (Sept 19-20). If the current Ultimate High price level continues to act as resistance, there is a real potential for the SPY/QQQ to move into a downward momentum breakdown the following week (Sept 23-30).
But, the one thing that throws the whole topping pattern into a mess is that the RSP has already broken to new ATHs and appears to be attempting to hold above the previous high-price fractals. Thus, we are seeing the equal-weighted S&P already moving into a broad value-based rally phase.
Watch this video to understand why I continue to suggest traders avoid engaging in any big trades or get greedy, thinking they are going to WIN BIG on their trades. Yes, I'm sure some people will hit their targets over the next 3-7+ days, but others will get run over (hard).
Unless you really like taking the risk of getting run over by the markets or market makers, I suggest sitting back and reading a good book while the markets or traders struggle to find their exits.
One thing is certain: the markets will move into a trend by the end of September—either into a breakaway rally phase or into a rollover topping phase.
You'll have lots of time to position for these trends because my research shows the next cycle phase is October 7-10 (nearly two+ weeks away).
So, why stress out about tomorrow's Fed Rate decision? Just sit back and wait for the markets to give you a clearer understanding of what's next.
I'll create another morning video tomorrow morning.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
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