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Spylong

What a day - Rejection off of medium term trend line on hourlyEven though today's volume was below average it didn't feel like it. I haven't taken a whipsaw to the face like that in a minute. We failed to break through the medium term trend line and the last two hours finally got rejected off of it. In my last post i was expecting a retest of the neckline from the H&S but we ended up gapping over it only to be pushed off the trend line from Dec '18. The last two hourly candles are clearly reversal signals. I started the day short but stopped out at 2950.50 on ES, reentered at the rejection, only to be whipsawed by some fake news about the Chinese Commerce Ministry before i could even get my stops set. Caught the top of that candle and rode it all the way down till just now. Not holding any position overnight, the chop is real. I'm expecting us to come back and visit the $288 level on SPY and the $2900 level on ES. But i also foresee many more whipsaws in our future with what seems like the increasingly volatile news cycle both globally and domestically. Goodluck.
AMEX:SPY
by merkd1904
Broken head and shoulders neck line, extremely oversold. Just noting that the violence of yesterday and today seems more pronounced than August's sell off. We blew right through the gaps at $291.06 and $288.92. That in itself should tell you this should not be played with. This is the proverbial freight train with no brakes. There strictly aren't any buyers. BUT with that being said we're extremely oversold on every TF besides the daily, which leads me to believe we could see a short cover rally today, and possibly some more follow through to the $282/200MA level tomorrow. I wouldn't be surprised if we get a backtest of the neckline/trendline at the $290 level. I've been in and out of this the past two days on /ES and have had a net short position in SPY since we got back up to $300. Watch for the non farm payrolls number on friday, but until then there's no brakes on this thing and the negative news everywhere seemingly is adding to the velocity. Watch for the bounce, it will come eventually. First target is the $274 May low, and second target around the $262 level. Good luck.
AMEX:SPY
by merkd1904
Daily SPY forecast timing analysis by Supply-Demand strength24-Jun Investing strategies by pretiming Investing position about Supply-Demand(S&D) strength: In Rising section of high profit & low risk Supply-Demand(S&D) strength Trend Analysis: In the midst of an adjustment trend of downward direction box pattern price flow marked by limited rises and downward fluctuations. Today's S&D strength Flow: Supply-Demand(S&D) strength flow appropriate to the current trend. View a Forecast Candlestick Shape Analysis of 10 days in the future: www.pretiming.com (You can easily create a trading plan.) D+1 Candlestick Color forecast: GREEN Candlestick %D+1 Range forecast: 0.3% (HIGH) ~ -0.2% (LOW), 0.0% (CLOSE) %AVG in case of rising: 0.7% (HIGH) ~ -0.2% (LOW), 0.6% (CLOSE) %AVG in case of falling: 0.3% (HIGH) ~ -0.7% (LOW), -0.3% (CLOSE) Price Forecast Timing Criteria: Price forecast timing is analyzed based on pretiming algorithm of Supply-Demand(S&D) strength.
AMEX:SPYLong
by pretiming
SPY SPX ES1! Stay LONG - More Rally to ComeIf you've been following me here, you've been long and enjoying the rally. New highs were inevitable. I still see a lot of bearishness and people picking spots to short - which tells me this market may go higher than anyone expects. More importantly, the obsession with looking for short spots tells me bears won't get their big crash delivered to them on a silver platter at the next high. More likely, we'll make highs and then just chop around sideways to work off the overbought condition. This would be a frustrating pain trade for many. I've posted my trades and more analysis live on my twitter @marketmind3
AMEX:SPYLong
by marketmind3
TRADERSAI - A.I. Driven Model Trades for FRI 06/14Earnings and Economic Headlines to begin to Replace Geopolitical Concerns?      No market-moving geopolitical news overnight and that might be allowing the markets to focus on economic and earnings related headlines. Chip stocks' earnings concerns (read, Broadcom's), China's weak economic numbers, IEA's oil demand outlook, and Gold's rise...these are likely to consume investors' sentiments today, heading into the weekend.      Detailed trading plans at TradersAIdotCom under S&P OUTLOOK for FRI 06/14
SP:SPX
by TradersAIDotCom
SPY SPX Bullish Breakout ConfirmedIts not an ideal set-up, but its still a breakout with multiple levels of support below. Bottom line, we have a downtrend breakout and some technical confirmation. Again, its not a slam dunk. But my gut tells me sentiment got overly bearish, so there is fuel for a rally. And we have a whole lot of support levels all the way down to $277 SPY to hold a sell-off - trendline, 100-day moving average, 200-day. On the upside, clear sailing at least to $287. Probably higher
AMEX:SPYLong
by marketmind3