Spyshort
$ES, $SPY, $SPX headed to 2500. Q2 Earnings Pending,First, consider a fib retracement. We bounced back to the top fib retracement .236, and thats where we topped with a heavy head and shoulders patterned that crashed markets today. We might see a bounce and recovery soon, but I think this kicks of wave C of the correction wave, heading down now until the end of q2, where we start to see recovery happen in q3 and q4. This is a prediction and anything can happen. I expect Spy to hit 2500 or the .786 Retracement level.
Spy about to DRILL !Spy graph analysis 6/9/2020
Spy could reach 325 before dropping again...
If spy breaks 325 then we could see it go to the moon.
Overall i am bearish on SPY i think its going to drill.
Daddy powell and his big money printer could say otherwise though.
I may consider calls as the FED is pumping! if spy cant breakout of 325 then ill be dumping.
GL trading
SPY down just for correction According situation in US, now is the only and right time for correction.
Coronavirus pandemic will continue its rally as mass protests rejecting social distance and anti-epidemic actions.
There is no view why investors should continue to buy assets. Hope? Right now it's not so serious case for keeping their positions
SPY levels Black lines - represent last week high and low
Blue lines - respresent previous day high and low
purple line- represents supports and resistance
yellow lines- represents last month high and low
The red indicator represents anchor vwap from previous lows and high. this also works as a potential support to watch
The key thing tomorrow is if the SPY remains below or reclaim 303.16.
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.
No directional trades, options only. Be careful and measure your risk reward.
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Wish you all best of luck in your trading!