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SPY/QQQ Plan Your Trade 7-15 Mid-Day Update - Selling PressureGood afternoon everyone, As I created this video, the SPY was stalling above $562, with lagging bullish price momentum. In this video, I explain why the SPY & QQQ are not selling downward very hard (yet). I also explain why I believe the downward price trend (consolidation/correction) I believe will happen over the next 4+ trading days will only be a -0.75% to -2.0% downward price swing. My analysis of how price will move relative to my SPY Cycle Patterns involves many factors. I rely on more than just the SPY Cycle Patterns; my research includes dozens of other metrics and custom indexes. This video shows how strongly IYT and RSP are rallying right now. If you are going to daytrade any of the indexes, you need to pay attention to those symbols. If IYT (the Transportation Index) is rallying while RSP (the Equal-weight S&P500 ETF) is rallying - guess what? You see forward solid expectations of a broad-sector US stock market rally. Yes, maybe 30 to 90+ days in the future, you may see ignored and undervalued symbols rally more than 30% because of what we see right now. THAT is why I'm trying to share my research. I want to help you become a better, more skilled trader. That includes learning to use technical analysis more efficiently and keeping track of many underlying key metrics to help balance your expectations. Why would anyone want to swing hard for short trades when the IYT, RSP, and dozens of other metrics say, "the US stock market is REFLATING into a broad-sector rally phase"? That is the question you need to ask yourself... Are you getting the best research/analysis to help you build skills you can keep for the rest of your life? Follow my research. Take a minute to go back and watch some of my recent videos. If you want to learn how I can predict market trends 5 to 10+ days in advance, then all you have to do is pay attention to what I show you. I read the charts/data - and then formulate my expectations based on what my SPY Cycle Patterns show me. If something changes, I may adjust my expectations a bit. But, generally, my expectations don't change very much. Let's get started and learn how to distinguish these markets. Watch this video and learn. Watch my other videos and learn. The next 5+ years will be the greatest opportunity of your life. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYShort
by BradMatheny
SPY/QQQ Plan Your Trade For 7-16 - Price Starting To FLAG OUTGood morning everyone, Today's video should be an important warning to prepare for prices to move into a tight, consolidated, FLAGGING type of trend. Remember, you'll hear me say price either FLAGS or TRENDS—that's it. If you understand these FLAGS are price constructs that present mechanical price structures, we can then use them to analyze future price structures. It all becomes clear that price moves in logical structures related to energy, vibration, amplitude, frequency, and cycles. Without getting too deep into the abstract of price theory, let's focus on where to find opportunities... Watch this video. Over the next 5+ trading days, you will find 35 very clear price swings, which I believe will provide ample opportunity for skilled traders. Beyond those 35 bigger swings, you should get ready to sit and wait (in CASH) for the bigger opportunities to set up between July 22 and 25 (for a rally to start). Smart traders must understand you can't force the markets to move as you want. You must sit back and wait for the right opportunities for your trades (or you'll get chopped to pieces). In this video, I've clearly laid out what I expect to see happen for the SPY/QQQ over the next 10+ days. There are still opportunities for skilled daytraders. My only warning is to START SMALL and build positions within your risk tolerance levels. Don't swing for the fences in this market for the next 5+ days. Stay safe. There will be more significant price swings starting on the 24th or 25th of July. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYShort
by BradMatheny
1
SPY/QQQ Plan Your Trade 7-15 Update - Building Support...This mid-day update to my SPY Plan Your Trade video series was probably needed as I'm getting many questions about what I think is happening today. In short, we saw a bit of a rally early in trading, followed by a moderate pullback. Yes, today's Exhaustion Rally pattern has not shown up yet. But as we learned last week, the price can respond a bit delayed when certain types of events disrupt market trends. I continue to suggest that the markets are attempting to settle after last weekend's big events. Traders are trying to digest what is happening and where to position capital. My weekend analysis showed a powerful push in RSP (the equal-weight S&P500 ETF), suggesting capital is moving into a more broad-sector rally phase. I do believe that capital shift will continue to drive future rallies. But, we also have to get through this week's SPY Cycle Patterns, which clearly illustrate the need for the markets to contract a bit (Wednesday ~ Friday) before moving into a more substantial rally phase mode near the 22~24. Sit tight. Let the markets settle. Watch this video to see how I view support and why I'm not worried about any potential collapse yet. Get Some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold The reality of Fibonacci Price Theory and most Technical Analysis techniques will teach you that as long as the price stays above $559.75 (above Friday's GAP). Buckle up.
AMEX:SPYLong
by BradMatheny
SPQ/QQQ Plan Your Trade For 7/15 - Exhaustion Rally PatternGood morning everyone, This new Plan Your Trade video will illustrate why I believe the SPY may target 568~570+ highs over the next two days before rolling downward into a moderate downward/consolidation phase. If you've been following my videos/research, you already know I believe the markets are setting up for another LEG HIGHER. But, first they need to roll into a PAUSE phase over the next 5+ days, then move higher on new momentum. Watch today's video to learn why my SPY Cycle Patterns are so incredible and help traders plan/prepare for big market moves. Here we go... Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
5
SPY/QQQ Plan Your Trade July 15-19 - US Broad-Sector RallyHappy Sunday. Last week, I updated my SPY Cycle Pattern predictions, highlighting what I expected to happen over the next 15+ trading days. Even though it is almost impossible to accurately predict future price trends, ranges, and Daily close levels, I think I've done a pretty good job setting accurate expectations over the past 15+ trading days with my SPY Cycle Patterns. This weekend, as I was analyzing this week and beyond, something became visible that alerted me to a broad market capital shift taking place. For more than 90+ days, I've warned traders that capital will move away from high-flying tech and other symbols to identify undervalued, ignored, and depressed stocks that still have fairly solid fundamentals/earnings. Last week, we saw several stocks, most commonly shown on RSP (the equal-weighted S&P 500 ETF), break away from a flagging formation and shoot upward - gapping as it rallied. This is an obvious function of capital actively seeking new opportunities in ignored, undervalued, and depressed stock symbols. This is capital moving more evenly across the US stock market, attempting to ride the next wave higher. In my opinion, this new Broad-Sector rally phase may continue to push the SPY/QQQ much higher than everyone expects. As a result, it could change how the SPY Cycle Patterns reflect the pending rally, contraction, and continued rally throughout the next two weeks. Watch this video to learn more. If I had to make a new, fresh analysis of what I expect after this big capital shift in the markets, I would move my upper price targets a bit higher and expect price to continue a stronger melt-up over the next 10 to 20+ days (throughout Q2:2024). Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
SP:SPXLong
by BradMatheny
SPY/QQQ Plan Your trade 7/12 - Carryover PatternToday's Carryover pattern should be very interesting. Do we carry over the deep selling pressure from yesterday or do we reject the downward price trend and revert back to the previous bullish trending. I expect a reversion back to the bullish trending setting up today. If the overnight price action were to continue downward today, the emotional selling pressure from yesterday would have been more evident. I believe the price will attempt to find support today and could move into a short squeeze later today - setting up a possible recovery rally above $565 on the SPY today. Of course, it is almost impossible to accurately predict future price trends, so I'm doing my best as we see this massive volatility hit. Remember, I'm trying to help you learn to become a better trader by watching prices, learning the techniques I try to teach, and applying the best techniques possible to keep you on the right side of the price trend. Of course, if we do see a rejection of this downward price move, it will become evident before Noon ET. If not, we may be in for an even deeper downward trend. This is why I clearly suggested traders learn to allocate funds properly. Learning to reduce trade sizes while volatility increases is critically important—unless you like blowing up your account. So, buckle up.
AMEX:SPYLong
by BradMatheny
18
US30 Outlook ICT Concepts💰 Welcome to Your Channel! Welcome to our channel where we delve into the intricacies of financial markets. Today, we focus on US30 , dissecting its current price action to uncover strategic trading opportunities. Join us as we analyze key levels and market dynamics, aiming to refine our trading strategies and maximize potential gains. 📰 Headlines CPI News: The actual Consumer Price Index (CPI) numbers came in lower than expected, leading to a weakened U.S. Dollar index. This news has had a significant impact on market sentiment, driving price movements. 🔍 Identifying Key Levels The chart highlights crucial levels and zones influencing the current market behavior: • PMH: Previous Month High, a resistance level where liquidity might accumulate. • PWH: Previous Week High, another resistance level indicative of potential liquidity. • FVG: Fair Value Gap, marking areas of market imbalance. • Daily FVG: Daily Fair Value Gap, acting as a significant support zone. • PWL & PML: Previous Week Low and Previous Month Low, key levels for potential liquidity captures. • BSL: Buy-side Liquidity, indicating where traders have placed their buy orders. • SSL: Sell-side Liquidity, indicating where traders have placed their sell orders. 📊 Key Considerations • PWH and PMH Taken: The market has recently taken out the liquidity resting above the previous week high and previous month high. • BSL: The current price action is approaching areas where buy-side liquidity is likely to be taken out. • Daily FVG: This zone is a significant support area where the market might gather liquidity before a potential reversal. 📉 Current Price Action The market has recently taken out the PWH and PMH, capturing the liquidity above these levels. This suggests a potential for further upward movement, especially with the weakened U.S. Dollar due to lower-than-expected CPI numbers. Additionally, the price action has taken out some low resistance liquidity on its way up, driven by the news. 🔄 Bearish Scenario Although the current sentiment is bullish, it's essential to consider the bearish scenario under certain conditions: • Reversal from Key Levels: If the price fails to hold above the PWH and PMH levels, we could see a reversal targeting the FVG and Daily FVG zones. • Targeting PWL & PML: If the bearish sentiment gains strength, the market could target the previous week low and previous month low to capture additional liquidity before a potential reversal. 📈 Bullish Scenario Considerations The overall bias appears bullish due to several factors: • CPI News Impact: The lower-than-expected CPI numbers have weakened the U.S. Dollar, contributing to a bullish sentiment. • Low Resistance Liquidity Taken: The market has already taken out some low resistance sell-side liquidity, clearing the path for further upward movement. • Targeting BSL: The market is likely to continue higher, aiming to take out the buy-side liquidity. 📊 Chart Analysis Summary The market has shown a strong bullish sentiment by taking out the PWH and PMH, driven by the CPI news and weakened U.S. Dollar. The price is likely to target further buy-side liquidity, with potential for higher movement. However, traders should be cautious of potential reversals from key resistance levels and consider the possibility of a bearish scenario if these levels do not hold. Understanding these key levels and the current market behavior helps in making informed trading decisions. 🙏 Thank you for joining us! Exploring US30 today highlighted the importance of effective risk management in trading success. Prioritize research, implement robust strategies, and seek guidance for confident market navigation. Stay tuned for more insights on our channel. Here's to profitable trading and continuous learning! ⚠️ Disclaimer The information provided here is for educational purposes only and should not be taken as financial advice. Always conduct your own research and consult a licensed financial advisor before making any investment decisions.
BLACKBULL:US30
by RealArmin
SPY/QQQ Plan Your Trade 7/11 EOD FollowupWhat can I say about today? It was also an emotional response to the CPI data falling in line with expectations. How did this happen? The way I interpret this data, traders were literally gutted that the CPI number didn't come in hot. They wanted a hot number so the Fed may be pressured into making a move on rates. I guess traders don't understand that we need the US economy to continue being the 900-lb gorilla compared to global economies. In fact, I want the US economy to continue to dominate global economies for the next 5+ years to grow our GDP and real wages and create an environment more similar to the 1990s—2010s US economy. Far too many people simply don't understand how important it is for the US economy to continue to outperform global markets. So, as you watch this video, please don't lose perspective of what is really taking place right now. A. The US economy is strong. B. The CPI data came in AS EXPECTED. C. Nothing has really changed from yesterday to today. D. Gold and Silver are moving higher as FEAR elevates (and demand for physical metals increases). E. The US markets will start to fall back into line (Bullish) as earnings continue to report. I urge you to stay cautious related to these big data days and understand emotions take control for many traders on days like today. Logic is thrown out the window when traders try to chase these types of trends. Moves like this can be big winners - or massive losers. So, I always urge traders to PLAY SMART. Trade only 1/3 to 1/2 positions on big news days. The trick to being a great trader is to never act in a manner that could blow up your account in 3 hours. If you want to do that, go to a casino and bet on RED or BLACK. If you want to be a skilled trader, then learn to position your trades relative to your risk exposure and remember - tomorrow is another day full of opportunities. At the end of the day today, the SPY Cycle Pattern nailed the move today. I did not nail the move with my expectations. Remember, I'm not 100% accurate all the time. Still, I've called 14 of the last 15 days very accurately. Not bad - huh? And if you think that is easy to do - give it a try yourself.
AMEX:SPYLong
by BradMatheny
2
SPY/QQQ Plan Your Trade 7/10 - EOD Followup AnalysisWell, what a crazy day. Did you guys see that momentum rally carry into today's Gap Up/High pattern? Boy, sure would have hated trying to short this market trend and watching my account collapse. This video shows you why I believe the momentum behind this move may carry into and through the big data hitting tomorrow. We may see a very strong rally tomorrow after the data hits that could push the SPY price up into the $565~568+ level. For those of you capable of executing quick shorts, I think you may have an early morning opportunity with price volatility tomorrow - but I would be cautious of getting too aggressive in shorting until closer to the 15th (Monday). Thank you for all your great comments and boosts. Remember, I do this to help traders become better skilled at executing their own trades. Now, we've still got 10+ more days of my predictions to work through. So, we get to see if my research/analysis is worth anything compared to the others out there. I firmly believe most of the people pushing out research are simply pushing out click-bait. Me, I'm a little different.
AMEX:SPYLong
by BradMatheny
8
Understanding Technical Indicators - Avoid FaultsI received a question from a member today related to Divergence on RSI or Stochastics. I've been lucky to actually sit down with the creator of Stochastics, George C. Lane, to discuss his indicator and how he used it to trade. I've also been luck to be able to attend multiple industry conferences over the past 20+ years where I've been able to watch and listen to dozens of the best technicians and analysts explain their techniques. Boy, those were the days - right? This video is going to help you understand most technical indicators are designed based on a RANGE of bars (usually 14 or so). This means they are measuring price trend/direction/strength/other over the past 14 bars - not longer. And because of that you need to understand any trend lasting more than 14+ bars could result in FAILURE of the technical indicator. Watch this video. I hope it helps. Get some.
AMEX:IWMEducation
by BradMatheny
SPQ/QQQ Plan Your Trade For 7/10 - Gap Up/Higher PatternToday's Gap Up/Higher pattern in Trend mode may provide a strong price rally attempt after yesterday's somewhat non-existent Momentum Rally pattern. I believe the lack of price movement yesterday resulted from markets waiting for Powell's comments and not wanting to get too far ahead of themselves. Today, I believe the markets will resume trending to support the continued bullish price move and possibly make up for some of the missing price trends from yesterday. We'll see - one way or another. We need to see a solid upward opening price gap today - leading to a moderate melt-upward type of trend. Today's price trend may be explosive - even though we have limited data/news. Remember, if you like my research, content, and info, share, boost, like, and visit my website to learn more. Get some.
AMEX:SPYLong
by BradMatheny
6
SPY/QQQ Plan Your Trade July 9 - End Of Day FollowupToday's Momentum Rally never really showed up. Remember, I've been warning you these SPY cycle patterns are not 100% accurate all the time. They've done a fantastic job of calling the markets correctly over the past 17+ days. But, today, the Momentum Rally never really materialized. As you'll see in this video, I believe the momentum for a bullish price move was muted today because of the Fed comments and lack of data. In short, the Fed comments took the momentum away, and price struggled to find any real trend. But the momentum for a bullish price move is still there. It is inherently biased toward price. So, I believe we could see a very big (explosive) move to the upside over the next 4+ trading days. Stay patient. This is a great example of learning to wait for the best setups. If my analysis is correct, this current setup could be a very big winner. The bullish price bias may explode to the upside over the next four to five days. Get some.
AMEX:SPYLong
by BradMatheny
9
SPY/QQQ Plan Your Trade - Momentum Rally Day Is HereToday's SPY Cycle Pattern is a Momentum Rally pattern in TREND mode. This suggests price will rally today - possibly targeting $558-559 or higher. The next 2-3 trading days should be very powerful for LONGS. My SPY Cycle Patterns have predicted the past 2+ weeks of price movement and continue to suggest upward price trending until July 15th or so. Then, we move into an exhaustion peak price action - eventually rolling back downward to find support. Get ready. The next big move will take place after July 23-24, setting up another great opportunity for skilled traders. Get some today.
AMEX:SPYLong
by BradMatheny
SPY/QQQ Plan Your Trade 7/8 Followup AnalysisI couldn't have predicted today's price trend any better. The SPY Cycle Pattern, Flat-Down pattern, worked out perfectly today. Although I expected a bit more downside price activity earlier in the trading day, the fact that today's price action in the SPY & QQQ is generally FLAT-DOWN is perfect. Remember, this pattern was predicted more than 24 months ago. It warned us that today would likely be a narrow-range price bar, and tomorrow, Wednesday, and Thursday will be strong upward-trending bars. Are you ready for the next big price move? How nice would it be to know 5+ days in advance what price is likely to do so you can plan your trades more efficiently? Learn to wait for the best setups, then go get them. Watch this video. Now, we will see if the current price FLAG resolves to the upside, as I expect. Why do I expect price to move higher into the close? Because tomorrow's pattern is a Momentum Rally in CARRYOVER mode. Go Get Some.
AMEX:SPYLong
by BradMatheny
13
SPY/QQQ Plan Your Trade For 7-8-24Back by popular demand - here is the Plan Your Trade video for July 8, 2024. Today, I will highlight my expectations and warn you that no one is able to accurately predict future market trends 100% of the time. I will tell everyone that I can't accurately predict anything related to future price trends/moves. I can use my skills and technology to "estimate" what I believe is a likely outcome for future price. I want to try to make this very clear. I'm not some special person who can see into the future. I am simply using my skills and my SPY Cycle Patterns to try to estimate what I believe could happen in the future. Based on that information, here you go. I've highlighted 3+ weeks of market trends, showing you where I believe opportunities exist and where to avoid sideways market trends. I see three very clear opportunities over the next three to four weeks. First, the continuation of the uptrend. Then, the pullback to support. Then, the renewed rally phase near July 23-24. Let's get some this week and prepare for what comes next.
NASDAQ:QQQLong
by BradMatheny
6
SPY/QQQ Plan Your Trade July 7 thru July25 - 3 Weeks AheadThanks for all your comments and boosts. Remember, it is almost impossible to predict price range/movement 3~4 weeks in advance accurately - as I'm trying to show you with this video. What I see happening over the next 3+ weeks is a continued rally phase for about five days, then an exhaustion peak sets up (a Last Engulfing pattern), followed by a short (2~4 day) contraction in price, leading to a FLAGGING pattern (sideways), before price attempts to move higher again on July 24~25. If my analysis is accurate, there are two or three very opportunistic trading moves over the next three weeks. Additionally, for day traders, we will see some considerable price volatility start to set up after July 15. Many of you have asked how I'm able to do this accurately. The simple answer is that I've been training myself to use my SPY Cycle Patterns and research/TA skills to attempt to "see into the future" with some degree of accuracy. Of course, I'm not 100% accurate all the time, but I think I provide incredible value for skilled traders. Knowing what to expect over the next two to three weeks can provide incredible insight into planning and trade decisions. That is what my SPY Cycle Patterns are all about. Combine that with some skills related to TA and Fibonacci Price Theory, and I think anyone could attempt to do what I'm doing on this chart with some practice. I will state this as clearly as I can... When my analysis aligns with YOUR analysis (regarding price trends/direction/range), I believe you can be more aggressive in your trading style. Otherwise, if I tell you, the price will be choppy and consolidated, cut your allocation levels to 25~50% and trade only for quick price objectives. I fully believe in waiting for prices to develop the best opportunities and not trying to trade every day. I'll be updating this outlook every morning with short videos. Go get some.
AMEX:SPYLong
by BradMatheny
4
SPY/QQQ Plan Your Trade Update - Markets Will Retrace 7/15-7/20Afternoon everyone, As I continue to prepare more research for all of you going further into July, I wanted to share my belief that the SPY/QQQ will retrace shortly. I expect this retracement to happen near 7/15~7/20 and possibly last 1~3 weeks. Price trends don't always go straight up or straight down. That's why you must learn to take advantage of my research on these types of trends. When the markets hand you this type of opportunity, you must be ready to pounce on these easy moves. I try to teach everyone the hardest thing to learn is patience. You have to wait for the markets to give you these opportunities. Watch this video to learn what to expect next week and the potential for a parabolic price trend going into the end of 2024. I'll return with a new Plan Your Trade video for Monday and beyond. Have a safe holiday weekend. I know lots of people are already traveling and visiting family.
AMEX:SPYLong
by BradMatheny
SPY/QQQ Plan Your Trade For July 5 - Gap Rally PossibleGood morning, This continued Plan Your Trade video series will continue for a number of week further. I continue to receive wonderful comments from viewers suggesting these videos are really helping them develop better skills and profit from market trends. Remember, these patterns, and my analysis, is not 100% accurate all the time (DISCLAIMER). I do my best to interpret the patterns and provide clear expectations - but I'm not always 100% perfect at predicting future price moves. What I try to do is to interpret the patterns like reading a sentence. I try to imaging what price would be doing as I'm reading through the SPY Cycle Patterns related to current price setups/structures on the Daily chart. So, in a way, I'm taking information I already know (the price chart) and trying to "fit" the puzzle pieces into place related to future price trends. Today, I'm expecting an opening price Gap (higher) followed by a fairly strong bullish price trend. This trend may stall near Noon ET, but then will probably continue to strengthen into the close of trading today (short squeeze). Remember, watch my other videos on TradingView to learn more about my analysis techniques. Go get'em.
BITSTAMP:BTCUSDLong
by BradMatheny
4
SPY/QQQ Plan Your Trade July 3 ReviewThank you for all the great comments and suggestions. I love the fact that I'm helping so many traders find success with my research. This video is really a recap of this week while we head into the 4th of July holiday and Friday's big Momentum Rally day. Please take some time to review the other videos I have posted on TradingView to learn better techniques and refine your skills. You'll see me use these techniques over and over again on my charts. Have a safe and fun 4th. We'll go get some more profits on Friday and into next week.
AMEX:SPYLong
by BradMatheny
SPY/QQQ Plan Your Trade For July 3 - Early ConsolidationGood morning, This continued video series highlights my SPY Cycle Patterns and attempts to teach you how to read these patterns and the price charts to plan your trades throughout the day. Remember, I'm only looking for the best opportunities for trading profits. I plan to avoid any CHOP or sideways price action as it is not my style to scalp in and out of trades every 10 minutes. I expect the upward price trend to continue, but it will happen later in the trading day (after Noon ET). I expect the SPY/QQQ to consolidate in the early portion of the trading day - moving sideways and possibly pulling downward after yesterday's strong rally. I believe that the price must attempt to consolidate into the channels related to momentum; then, the price may try to resume another momentum move higher. So, I'm going to be patiently waiting out the first 2.5 hours of the trading day, looking for opportunities to buy into lower prices near 11-12 Noon ET, and expecting the markets to move into a momentum trend higher. What I do may be different from what you decide to do as a trader. I'm just trying to help you see and plan for opportunities throughout the day. Remember, Friday should be a very large price range day with a Momentum Rally pattern. It is not uncommon for that pattern's momentum to bleed into the end of today's trading day. It should be a good day for traders. Get some.
NASDAQ:QQQLong
by BradMatheny
12
SPY/QQQ Plan Your Trade Review & Pre 4th ExpectationsThank you for all your comments, likes, and Boosts recently. It's lovely to see my research helping so many traders. I know some of you have recently been caught on the wrong side of market trends—this happens to the best of us. I've learned to wait out market activity I don't like and try to trade the bigger price swings, like the RALLY patterns yesterday and today. You can't try to stand in front of the markets and force them to move in the direction you want. You have to stand back and catch moves that are opportunistic and present clear success opportunities. This video reviews the past 8+ trading days, my SPY Cycle Pattern predictions, and what will likely happen over the next 7+ trading days. In short, I expect the markets to slide into the July 4th holiday with a moderate melt-up trend and then move into a strong short squeeze on Friday (7/5). This leads us to next week (8-12), where we'll get early Q2:2024 earnings data. I believe next week will continue the upward price trend - pushing the SPY above $560+. The following week (15-19) is exciting. There is a very real potential for a moderately strong price correction on Wednesday/Thursday of this week, which could be a huge opportunity for skilled traders. So, thank you again for commenting, liking, and Boosting these videos. I'll probably keep them going for a few weeks to help more traders. Remember - focus on the facts/data and avoid the emotional side of trading. The markets always want to take your money. Find out how to wait for the markets to give you profit opportunities.
AMEX:SPYLong
by BradMatheny
10
Plan Your Trade July 2 - The Big Rally Day Is Here.This continued series highlighting my SPY Cycle Patterns continues this week. Today, the Rally pattern is in Trend mode. This usually suggests a powerful potential for a moderately large upward price bar on the SPY chart. Although, this morning, we are seeing a moderately high pre-market price below yesterday's closing price. Does this negate the Rally pattern? Nope. The pattern is fixed. It will either become successful or fail. Remember, these SPY Cycle Patterns have a (roughly) 70% to 80% success rate. Thus, we can rely on them for guidance, but we must always prepare for potential failure (just like when making trading decisions). I'm sticking to the SPY Cycle Patterns today. I'm not worried about the deep, lower opening price right now. However, this profoundly lower pre-market price could prompt a substantial"wash-out" event for the shorts when the market shifts to the regular session. It seems that today is going to be a "make or break" day. Watch this video to see how I will play today's price action. Go get some.
AMEX:SPYLong
by BradMatheny
16