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Spylong

SPY: Buyers come in again after a low volume dayToday's bar was a bullish bar and went above the high of yesterday's low volume bar. April 27 and April 28 were low volume days as well. When price continues to put in new highs despite these low volume days it is a good indication price is headed higher. 4250 and 4300 are the next targets for the S&P. I do not advocate buying into the highs so entering on pullbacks waiting for a price action entry is best. We'll see what tomorrow's bar brings.
AMEX:SPYLong
by Steven7960
SPY Intraday Week 17We need one last breath on the RSI to get buying momentum for this last wave up to resistance, in the process of building a 30min triple bottom for a 5-wave start. Especially after earnings, next week should be bullish. Double rejection of the primary trendline, hard resistance at 418. Short down to lower .618 range, completing ABC correction. Lots of confusion here during this week's environment, which generally means we're in a whiplashing ABC correction. What's really happening is we're just consolidating.
AMEX:SPYLong
by DanielSAN383
5
SPY: 3,2,1 Blast OffBuyers have yet again taken price above a low volume buy bar. Price went above the low volume bar of April 13th and those three following bars were "normal" volume days which is a strong indication that the buying is strong and we are definitely headed higher. There might be a small correction but it is highly probable we are going to continue to put in new highs on the S&P. According to the daily chart as it is right now, 4,300 on the S&P is a reasonable price target.
AMEX:SPYLong
by Steven7960
4
What Is Going To Happen Long-term With The Stock Market?1: DAX: Looking at the weekly, you can clearly see what DAX has done. It doesn't take an EW expert to see that we just finished wave 4. Wave 3 ended at 13.362 (1.618) fib, which means this correction is a wave 4 correction. Our rule 1 was: If it broke Wave 1 which was at 8122 the wave structure would have been invalidated. But since it didn't, we are looking at wave 5 up to 17k DAX. 2. USOIL: The commodity, have been on a massive selloff the past weeks. Looking at the bigger picture we see that US OIL just finished it wave (E) formation down, which indicates that the selloff is done. Since we have finished this descending wedge pattern, it should now retrace and to atleast 40 usd and breakout of this wedge, meaning it would go above 100 USD in longterm. 3: VIX . VIX is at a really high spot right, while its nearly impossible to do EW count on vix, we can use other indicators such as RSI and CCI. RSI at the same levels as the peak of 2008. Also we have the CCI at 400 levels such as 2008. Which indicates that we are very likely to see a decrease in the selloff. 4: IWM. Which looks at the small-cap sector in the US, indicates that the selloff is an major ABC correction. We are currently undergoing the last C wave down and we are paying very close attention to the 1.618 fib at 93.08 USD. In extreme cases wave C can go for the 1.618 and coupled with the extreme pandemic and fear in the markets, I see why we went that far. in addition the selloff already went past the 0.5 fib, which is likely for C waves. So what is there to come? I think its very likely we will see a bounce coming in the next week or two. I dont think that we will sell off further. I expect 220 SPY to hold. Also in correlation with DAX we see that DAX will push up for a wave 5 to 17k. And since the market are in correlation with each other, we can correlate it with SPY. Spy will likely do a B wave up to 3100, while DAX at the same time push up to 17k. That is gonna be a very important level to look at, as we may expect a C wave down to 200 SPY there.
OANDA:SPX500USDLong
by LukeSkywalker
1