SPY/QQQ Plan Your Trade For 9-27 : Gap Potential Pattern
Today's Gap Potential will likely resolve in an opening price gap to the upside.
I believe the current price bias, which is still to the upside, will prompt a higher opening price gap followed by a moderate bullish trend today.
I will warn you that an afternoon consolidation period heading into the weekend is not out of the question. So, be prepared for a flat trading range after Noon (NY) lasting possibly 60-90 minutes.
The close of trading today could prompt a fairly big price trend (an end-of-day Squeeze). This is capital moving out of the markets before the weekend, and it could prompt a big opportunity for traders. My guess is it would be to the upside, but it really depends on how price reacts throughout the day.
Right now, I would guess the upward price squeeze will change by 55 to 65% at the end of the day.
Overall, I believe today will be rather muted for the SPY, QQQ, Gold, Silver, and BTCUSD. Yesterday's big CRUSH bar is the volatility event this week (setting new higher highs and higher lows), followed by today's price action, which will settle ahead of next week.
So, today, it will likely show moderate trending with periods of flat/consolidation. The end of the day may show a more aggressive "Squeeze" trend - but we'll see if that happens.
Either way, play the chart. Play what is in front of you, and don't get trapped in any longer-term expectations. There will be lots of opportunities next week for bigger trends.
Get Some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
I believe the current price bias, which is still to the upside, will prompt a higher opening price gap followed by a moderate bullish trend today.
I will warn you that an afternoon consolidation period heading into the weekend is not out of the question. So, be prepared for a flat trading range after Noon (NY) lasting possibly 60-90 minutes.
The close of trading today could prompt a fairly big price trend (an end-of-day Squeeze). This is capital moving out of the markets before the weekend, and it could prompt a big opportunity for traders. My guess is it would be to the upside, but it really depends on how price reacts throughout the day.
Right now, I would guess the upward price squeeze will change by 55 to 65% at the end of the day.
Overall, I believe today will be rather muted for the SPY, QQQ, Gold, Silver, and BTCUSD. Yesterday's big CRUSH bar is the volatility event this week (setting new higher highs and higher lows), followed by today's price action, which will settle ahead of next week.
So, today, it will likely show moderate trending with periods of flat/consolidation. The end of the day may show a more aggressive "Squeeze" trend - but we'll see if that happens.
Either way, play the chart. Play what is in front of you, and don't get trapped in any longer-term expectations. There will be lots of opportunities next week for bigger trends.
Get Some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
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