Spyshort
July 2020 Market PullbackCorrelation between moneyflow and RSI.
When RSI is nearing overbought 66 and moneyflow is increasing in the short term, but decreasing in the long term, There's a pullback probability of 85% within 5 days. Represented by the green flags and the upper Bollinger band being tested and correcting.
This suggests a pullback in July 2020
$SPY
SPY 297.50 target$SPY to possibly breathe to 297.50 to rope in shorts (and squeeze bulls).
Green niner on both the daily and $ES.
The previous green niner on $SPY allowed us to retrace ~5%- if this were to happen again it would place the $SPY at 286- however I see this highly unlikely given the major psychological level at 300 and recent 200-day MA break.
Could be wrong of course, *not investment advice.
From there will look to go long.
SPY MAJOR RESISTANCE LINE SPY is unstoppable, for whatever reason it may be. However, a major resistance level has been reached, and one might try their luck at shorting spy here.
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Blow off top on SPY?Looks like the setup of a classic blow off top chart pattern. Might see new lows around August and then continue the downtrend after a short relief rally. Let's see what happens!
Next Week's OutlookVery strong finish this week, but I'm leaning toward the bearish outlook below 2980. Running into the 200ma on the Daily, and the 20ma on the weekly. I expect a below the level we broke into the week's close. Then I will take a short off a retest of that level.
Fundementals, The Election, The Fed, Bonds and the ProphecySo Everyone is bearish and for good reason; Unemployment and fundamentals loom over this market but everyone forgets the Bond market and the FED who are pushed by the republicans and Donald Trump, above anyone else, to push the stock market higher. They are pushing the bond guys to buy this market and are printing all the cash necessary to keep it going (stimulus checks and loans). There is also that Simpson's prophesy looming in the background about how DT is going to bankrupt the US which may actually play out. So what if this is how it happens because what's the alternative, the stock market does what the least likely is going to happen and right now it either goes sideways forever or it goes up. Going down with all this cash floating around seems unlikely but it can happen and many bears have tried believe me. So I see a stock market bubble forming, at least for a short period of time. I do see another crash but only after things actually look grim again like a second big wave in November but right now it is fated to keep going up because of these factors in play.
PS: Maybe this is the Top.
SPY BEARISH DIVERGANCE INDICATORSNothing to see here. Just keep buying stocks and ignore the news if possible.
SPX - Out of Gas or Full Tank? 20/50/200MA or Topped Out?SPX is in a VERY interesting spot here. Be careful trading and always check S&P pre market and news before entering new trades.
Quickpost: SPY at the Weekly Bollinger BaselineThe Bollingerband traditionally has a lookback of 20 periods, and that coincides with a common moving average length of 20 (sometimes 21). SPY price action has gapped up and stopped right at that baseline, or the 20W SMA. This is very much a do or die circumstance for the market. If the baseline asserts itself as resistance we can expect a very painful recession. If somehow the baseline is confirmed as support we have the much promiced V shape recovery
Below the prices action we have the OBV & EMAS. The OBV has been consolidating below the 100W, which isn't a good sign for the bulls, and the 20W is looking like it will cross the 100W bearishly. This is an extra-ordinarily bearish set of circumstances to play out.
SPX Red day tomorrow Just a theory but the last three days have been a pump before a huge drop tomorrow.
Pump on 8 healthy people out of 45 having more antibodies.
Trump through Saudi Arabia pump.
Pump from Pastor Powell during his 60 minute interview on Sunday.
"They" knew market would drop during/after G7 meeting tomorrow and Powell testifying in front of the Senate. The fed report on Friday was horrifically ominous, discussing bank runs and bank bankruptcies, real estate and asset prices plummeting suddenly and severely, etc and the U.S. entering a deep and severe depression. Powell on 60 minutes Sunday was pure market psychology manipulation, i.e. complete bullshit. Total contradiction to the 78 page report published Friday after market close. Those same banks that are in deep trouble led this rally, along with floating death trap cruise lines, and ghost airlines.
To throw in some TA, looks like a back test of the rising channel we broke out of a last Tuesday.
We'll see. Maybe needs to touch the line early before falling this week. Targets, same as they've always been. Retesting March lows.
