Today's pattern suggests the markets are moving in a counter-trend mode and that we may see a Breakaway type of price bar.
The current trend is Bearish. Thus, I believe the current Counter-Trend is Bullish.
As many of you already know. I picked up some Calls off the lows yesterday after noticing a complete EPP pattern (Ultimate Low) setup about 75 minutes before the end of the regular trading day on 4-21.
My opinion, overall, is that we are still stuck within a consolidation phase. But that doesn't mean we can't see the SPY/QQQ move higher (toward the upper consolidation high) or roll back downward (toward the lower consolidation low).
I do believe we are moving into a moderate upward price trend over the next 3-4+ days where price will attempt to retest the 525-535+ level on the SPY, then ROLL into a top and start a sharp downtrend.
This volatility presents an incredible opportunity for traders. Staying ahead of these trends is key to improved success.
The SPY Cycle Patterns are fairly clear. We've moved into consolidation, and the price is very volatile. The Counter Trend pattern today may setup a 3-4+ day minor rally in the SPY/QQQ.
But, ultimately, I believe the SPY/QQQ will roll downward into the May Cycle lows - just as I have been predicting for the past 45+ days.
Don't get greedy. Play the immediate trend and learn to identify the EPP patterns on 5-minute charts.
Today should be a very good day for traders.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #gold #nq #investing #trading #spytrading #spymarket #tradingmarket #stockmarket #silver
The current trend is Bearish. Thus, I believe the current Counter-Trend is Bullish.
As many of you already know. I picked up some Calls off the lows yesterday after noticing a complete EPP pattern (Ultimate Low) setup about 75 minutes before the end of the regular trading day on 4-21.
My opinion, overall, is that we are still stuck within a consolidation phase. But that doesn't mean we can't see the SPY/QQQ move higher (toward the upper consolidation high) or roll back downward (toward the lower consolidation low).
I do believe we are moving into a moderate upward price trend over the next 3-4+ days where price will attempt to retest the 525-535+ level on the SPY, then ROLL into a top and start a sharp downtrend.
This volatility presents an incredible opportunity for traders. Staying ahead of these trends is key to improved success.
The SPY Cycle Patterns are fairly clear. We've moved into consolidation, and the price is very volatile. The Counter Trend pattern today may setup a 3-4+ day minor rally in the SPY/QQQ.
But, ultimately, I believe the SPY/QQQ will roll downward into the May Cycle lows - just as I have been predicting for the past 45+ days.
Don't get greedy. Play the immediate trend and learn to identify the EPP patterns on 5-minute charts.
Today should be a very good day for traders.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #gold #nq #investing #trading #spytrading #spymarket #tradingmarket #stockmarket #silver
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Disclaimer
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