Here's a contrast between a long on BCH/USD and short on SPY. As you can see Bitcoin Cash is at it's support zone and SPY is near it's resistance area.
Trade idea:
BCH
long = 436
stop = 400
profit = 630
SPY
short = 542
stop = 545
profit = 530
Trade idea:
BCH
long = 436
stop = 400
profit = 630
SPY
short = 542
stop = 545
profit = 530
Note
SPY and Bitcoin Cash stochastic comparison on the 1 week chart:Note
Trade idea:BCH
long = 375
stop = 350
profit = 630
SPY
short = 548
stop = 553
profit = 530
Note
Note
It looks like there could be an intraday bullish reversal after 11:30EST on SPY today 6/21, even though that's against my thesis here.Note
From 1950-2023, July 4th average daily S&P 500 Index returns from five trading days before (days -5 to -1) to five trading days after (days 1 to 5). SPY should have a high probability to go down tomorrow 6/28 and up for 7/3 because the market is closed on the 4th of July. These statistics are not absolute.
Trading indicators:
tradingview.com/u/Options360/
tradingview.com/u/Options360/
Disclaimer
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Trading indicators:
tradingview.com/u/Options360/
tradingview.com/u/Options360/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.