Spylong
SPY , S&P500For now im playing this setup on SPX closed my short from 278 at 268 and longed at 268 golden zone, as of now i still feel a possibility for SPX to jump to new highs of 3000 before falling off as EW suggest this is the only way to me that i can count the 5th wave in a generally reasonable way, only thing stopping this is an algo which has pulled at the previous rejection of 280 and aiming around 260 , however as long as we hold this previous low we still have a possibility of going up as there also is an algo playing at this zone
SPY Inverse Head and ShouldersOkay, looking at the SPY 1-hour time frame it looks to me as though there is a good chance that an inverse head and shoulders pattern will be completed. After a nice bounce back from the low set on Oct. 29th the markets are pulling back today for a variety of reasons. One reason was Apple earnings, another was trade news that came out which the market didn't like, also after a nice bounce the market may have just been ready for a pullback. My feeling is that this will be just a temporary pullback, most likely a couple of days or so then the markets will begin to march higher once again thus completing the right shoulder. I feel the biggest threat to my analysis is if we get additional bad trade news causing the markets to plunge invalidating the inverse head and shoulders pattern.
Possible inverse Head-And-Shoulders on SPYIf we see a strong bounce next week, it could signal that we're in an inverse head-and-shoulders pattern. A likely bottom is forming, good entry point.
Possible Bull Scenario on SPX to Finish 2018I usually don't show what I am looking at on both sides of the trade, so I am going to start doing so in the future... Here is how I see SPX if there's a clean break above ATH and the bull run continues into the end of the year...
$SPY Possible 0.618% - 0.786% Retracement Looking to the past, 1994-2000 Bull Market had an approx 0.618% - 0.786% Retracement, if you compare it to this current bull run that we are in, we are much due for a pull back
SPY index – uptrend (30/07/2018)Hello Traders!
There is the clear and pure waves count on SPY index, which has the strong bullish tendency and support the continue uptrend on E-mini S&P 500 near time.
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SPY to extend gains in summer 2018After a significant consolidation period rattled by trade rumors and geopolitical fears, market sentiment and optimism has increased solidified by the record low unemployment rate. All technical indicators are pointing upwards as SPY gears up to test all time highs in the coming months.
UPDATE: Despite excitement today, $2785 is still our targetHi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart!
Have a great day everyone!
Symmetrical Triangle Breakout: Potential Upside MoveSymmetrical triangles more times than not break out to continue a previous trend, in this case bullish. Thoughts on how it might look in the days, weeks ahead.
The Weekly 50 EMA on SPY is the Tell TaleOther than the messiness of 2015 and 2016 the 50 EMA on the weekly has been a clear indicator of market support. While people will say that we've been in a bull market for 8-9 years they often forget that protracted sideways move with significant breaches of the weekly MAs. Well we're bouncing off the 50 again or at least it seems but will it hold. I think its safe to say that if we get a weekly close below the 50, it would be wise to be in some cash so that one has money on hand to leg back in at major support levels.
On the daily chart, the 200 is holding up price and we've bounced (obviously) off of that average as well. Closing below the weekly 50 and the daily 200 will likely indicate a larger pullback but the present pattern, and I'll post a daily too looks correctional. There's a large triangle pattern forming which obviously can break either way. However using the triangle pattern in conjunction with the moving averages lends significant weight. If we can break above 20 and 50 on a daily chart, say get above 271-272 and close up there, then market is likely to make another leg higher assuming it makes a new high. If not, and we fail the averages, get into some cash as simply wait.
SPY Bullish Hammer Candle - Risk Is To The UpsideEverybody expects a correction. Sentiment isn't top-like in my view. Today's little selloff immediately triggered buying and yielded a bullish hammer candle off current range lows. The bullish hammer is further accompanied by bottoming slow stochastics, to me a signal of a fresh bull leg higher. Again, with everyone bearish out there, the risk is to the upside. Maybe NFPs on Friday will cause the breakout.
