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$SPY - Reaching 2017 Levels$SPY - we saw the weakness we talked about yesterday in the market. Continuation selling for Friday. Still no sign of strength or bounce action. We will be looking around the $235 market where the 200ma is on the weekly chart as a significant line of support for the market to catch itself and get back on its feet. Scary times. Trade small we have noticed even trading the inverse ETFs like the TVIX, SQQQ, UVXY, TZA our hold times are much shorter. Inverse ETF bounces are getting bought up which gives us great opportunities to get in on support on TVIX when the market looks weak. Exciting holiday trading for sure!
AMEX:SPYShort
by BullsOnWallStreet
Short Squeeze + Discounted price = Bear NightmareAs we make the "Three Drives Pattern", the bear shorts will come in even heavier - one final time We have an obvious ascending channel and we need to follow the trend. Weekends are typically higher probability for bull runs. Stocks are climbing Fundamental Analysis: Retails investors don't want to miss out on "the bottom", even though this is not the bottom. They are in the belief that the market was manipulated to drop, so Wall St can by at discounted prices before 2019 Technical Analysis: Retail Bulls are waiting for BTC to hit $3,600 again before buying (but it won't), and will realize they missed out (especially on a Saturday) and FOMO in big time at the end of the 3-Dives Please leave me your thoughts, I appreciate the feedback -racethehair
COINBASE:BTCUSDLong
by racethehare
1
Oh How History Rhymes... But So Quickly?I use historical analysis, not to base my decisions, but to see the options laid out on the table. The market is the magician; if you watch the trick unfold before your eyes - before you know it - you missed the slight of hand. FYI, I believe crypto will play a huge roll in our daily lives and I am long term bullish. I make calls with big play(er)s. There is no shortcut. Trade the chart and do not try to outsmart the market. I'm posting, simply to see if there is value to gain a following or not. We'll see... but might be my one and only post. Those who have eyes should open them. 1. Fundamental Analysis: Crypto is pathetically hanging on with a prayer, in hopes of EFT or SEC approvals, flood of bullish news, and institutional money… literally the exact opposite of why crypto should grow. Most retail traders are bullish “HODL till I die”… Huge red flags. 2. Technical Analysis: The trend is your friend and the stock market is in full bull mode with no sign of reversal. Yet Crypto is in full bear mode with no sign of reversal. Crypto is not the exception to the rule and needs a correction before it can head back up to breaking "All Time High". What Do I See? Two large bear flags in a row (orange rectangles) Low volume, and lower volatility Bollinger is making a final squeeze at the end of each triangle with the basis (median) pointing up shorts vs longs repeating Bart formations = squeezing w/o volume Overall sideways for 1.5 months (green box) We have broken down on the (bearish pink) triangle Purple grind line at the end of each triangle (currently forming) Bulls have much resistance to break through. Bears can just wait it out... I suspect we will make a wick to $6025 within a few days, then watch for the drop to ~$5900 = bubble has blown = lower lows/lower highs for a bit till we find a NEW bottom. COINBASE:BTCUSD Alan Greenspan - You can spot a bubble. They're obvious in every respect. But it is impossible for the majority of participants in the market to call the date when it blows. Every bubble by definition deflates. But when that deflation occurs, it requires a point at which the vast majority of market participants do not expect it to happen. Almost everybody is bullish, expects the market to go up, and is fully committed. At that point if you took a survey of what the outlook was, you'd get an overwhelming positive response the day before it falls on its face. -racethehair
COINBASE:BTCUSDShort
by racethehare
Stock Market Analysis - 25th October 2018Stock Market Analysis There was a pretty big selling on Wednesday 24th October 2018 on the DOW JONES, The DOW was down 600 points and as discussed previously see post from 22nd October 2018, we predicted a sell off previously on Monday morning. We can see the selling on Wednesday with the long lower shadows below, the day looked pretty normal then suddenly the selling force came in a bit late in the day. The confirmation of the sell off can be seen looking at the intra-day chart. The pattern shows the selloff occurred close to the end of the day with some buying creating the long lower shadow. At the time of posting, the DOW JONES Futures are up and implies to open at over 100, S&P, Russell, and NASDAQ futures are all opening high. as we previously discussed, I suggest we are getting close in the series of selloffs. We have hit the first DOW JONES support at 24,500 points and the next support if the sell off continues is at 24,000points. There will be lots of support at 24,500 be aware of this. I know there are a lot of concerns with news headline but the market did not sell off because of the news headlines or fundamental issue such as the pipe bombs etc. Take confidence in the fact that the sell off is almost over and the bright side is in view. The moment the news becomes most bearish that is the time to start buying. There may be a rebound starting from Friday if we have a bullish candle during Thursday’s trading session. Watch out for a rebound to resistance at 25,500points and then a sell off again giving a lower low, lower high. The point where we get such lower low and lower high is a place to worry. At this moment the support target to look out for are 24,500 and 24,000 points. S&P 500 We are at support for the S&P 500 with trading closing at around 2650 and next support point is 2600 points. I expect Traders to hegde open positions during these natural moves. Similar to the DOW watch out for a bullish candle with extreme volatility. In the VIX, volatility is expected to be lower than the February 2018 when we had the sell off. I expect you not to over react. NASDAQ 100 The NASDAQ is also at support 7300 with next support at 7000 closing below 6800 maybe concerning. Our stochastic oscillators and a bullish candle on Friday in this manner results into a bullish divergence. Conclusion There will be further sell off in the coming week but November and December we will see rally with the bulls coming in and gives opportunity to buy. The market outlook is a below average risk and with seasonality October 24, 25 and 26 are historically bearish and then turns bullish afterwards from the 27th October. The month of November and December are historically bullish. I hope these raised your hope n the Market. Be confident all hope is not lost in the market. Happy Trading week and if I need to correct anything in my analysis I will do so as soon as it comes to my attention. I am reluctant to give trading tips because of the uncertainty in the market. So hopefully I will make up for this when the market is stable. See you soon!
DJ:DJIShort
by padedayo