$SPY BOOM target hit in SPYTarget from last nights video HIT 🙌
and that puts us right in the middle of the island gap after technical bouncing on the 50DMA
FOMC & NASDAQ:TSLA NASDAQ:META NASDAQ:MSFT earning today!
SPY trade ideas
SPY vs FOMCTomorrow 1/29 at 2pm FOMC interest rate decision followed by a press conference at 2:30pm. As you can see on this SPY 1 day chart, FOMC days and the week following has a checkered past for bulls.
Moving average levels:
SMA20 = 593
SMA50 = 596
SMA100 = 585
SMA200 = 560
7/3124
5.5%
9/18/24
5%
11/7/24
4.75%
12/18/24
4.5%
1/29/25
expected 4.5%
SPY options data:
1/31 expiry
Put Volume Total 214,435
Call Volume Total 181,522
Put/Call Volume Ratio 1.18
Put Open Interest Total 1,958,680
Call Open Interest Total 511,620
Put/Call Open Interest Ratio 3.83
2/21 expiry
Put Volume Total 115,166
Call Volume Total 87,489
Put/Call Volume Ratio 1.32
Put Open Interest Total 2,491,624
Call Open Interest Total 637,118
Put/Call Open Interest Ratio 3.91
$SPY Options | Trump Week TwoAMEX:SPY
Fear and panic has spread in the market, but buyers ate it up by end of day (1/27). There is a gap from December 18th up to $603-$606. $603.44 is the key pivot for bulls and $591.54 for the bears.
For our weekly options trades, we use 15 or 30 minute candle closes for confirmation and stop-loss.
$603 CALL 2/11
Entry: Breakout/Hold Over $599.92
Targets🎯: $603.44, $606
$595 PUTS 2/11
Entry: Breakdown/Rejection Under $599.92 OR $603
Targets🎯: $595, $591.54
$SPY January 28, 2025AMEX:SPY January 28, 2025
15 Minutes
The divergence paid off again.
Now we again wait for moving averages 9 and 21 to go above 50,100 and 200 to initiate any longs.
For the fall 608.15 to 594.64 61.8% retracement is around 602-603 levels.
A good level to short SL 605.5.
I expect sideways today.
SPY Analysis: Testing All-Time Highs with Weakening Momentum Testing / Surpassed ATH
MACD 4 HR Crossing down at red arrow.
RSI 4 HR Crossing down from overbought
1 HR MFI dropping
1 HR RSI dropping down.
MACD No signal.
30 Minute MACD looks to be losing momentum downward possible reversal back towards the upside
30 Minute RSI at 50 no potential for upside or downside this is nuetral.
30 minute MFI is still high but not overbought could be a downward from.
15 Minute MACD Crossing up could signal a move upward
15 Minute RSI was close to oversold and is now pushing up.
15 Minute MFI was close to oversold now pushing back up
5 Minute 50/100 EMA: 50 EMA crossing into 100 EMA could be signaling a short but
price has bounced on it a few times now.
Despite the short-term signs of a bounce (15-minute and 5-minute signals), the broader timeframes point to weakening momentum and a lack of sustained buying pressure. The 4-hour MACD and RSI both turning downward from overbought conditions align with a potential reversal. As SPY fails to gain further traction above the ATH, it could start to roll over, targeting lower levels.
The 0.618 Fibonacci retracement level at $590 aligns with a key support zone, making it a logical target for a pullback. Additionally, any increase in volatility (VIX) or further weakness in momentum indicators would likely accelerate the move toward this level.
Key Levels to Watch:
Resistance: The ATH and current price zone (~607–610).
Support: The $600 psychological level and $590 Fibonacci retracement.
I’ll be monitoring the price action closely for confirmation of this bearish thesis. If SPY loses the short-term EMAs and momentum fails to recover, a move to $590 becomes increasingly likely. Let me know your thoughts.
20 YEARS OF SPY: IS THE BOTTOM IN? (Pt. 2)The Sequel to one of my most famous TradingView Editors' Picks ideas: "20 YEARS OF SPY: IS THE BOTTOM IN?"
In this video, I revisit the same SPY chart & go thru comments from the original post, which is very telling of what sentiment was like back in early 2023.
Which looking back, that was the very beginning of this multi year bull market that we are currently in
ORIGINAL POST: 20 YEARS OF SPY: IS THE BOTTOM IN?
Where's The Top?Good evening traders,
If you're anything like me, you've probably been asking yourself for a few days now when SPY will top out? So here is my technical analysis with a breakdown of my thoughts and predictions for the next few upcoming weeks.
First and foremost, Trump took office on Jan 20th. The "Trump Pump" is alive and well, obviously. I'm starting to think the market was being retrained from a breakout under the Biden Administration, though we saw over a 25% return YTD.
Side note: This year is projected to do 3% on the S&P 500.
With that said, it is the S&P 500. The 500 largest companies in the United States. As Tech and AI take flight into 2025, it can only be assumed that large companies that make up the S&P 500 would be adopting these new resources in order to help them turn profits.
What does this mean for retail traders?
To put it simply, the trend is your friend, until it's not. These index funds, such as SPY have consumed bears for almost a consecutive 10 days, following a parallel channel towards a high target/trend line around the area of 623-626.
Until this channel of mayhem is broken, SPY is bullish. This is no man's land and we could change direction at any given moment. The lines of resistance are as follows: .. .. .. ..
Thanks for reading,
SPY/QQQ Plan Your Trade For 1-23-25 : Carryover PatternToday's Carryover pattern suggests the markets will attempt to hold near recent support while attempting to determine trend. I view it as move of an indecisive day - looking to see if the markets can break to new all-time highs or if the markets have reached the top I've been discussing.
In my opinion, today will be a pause/consolidation day in the SPY/QQQ - leading to the big CRUSH pattern tomorrow.
Gold and Silver are under quite a bit of pressure this morning. The metals pattern is a BOTTOM pattern. So, I expect this selling in metals to be reflective of issues that will drive the SPY/QQQ downward tomorrow (the CRUSH pattern) and likely result in a moderate downward trend in the SPY/QQQ over the next 2 weeks.
Metals will recover and try to move higher as metals continues to hedge against global risks.
BTCUSD is moving downward - trying to break below the Flag Support level of the EPP pattern.
I believe tomorrow will be a pivotal day for the markets and today will be a fairly consolidated day overall.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
Why Blind Index Investing Could Be Costing You Thousands?!Index-based investing has been one of the most popular ways to grow a long-term portfolio for decades. Today, it has become even more accessible and favored, offering a safer foundation for investing and generally carrying lower risk compared to portfolios composed of individual stocks. For someone like me, a technical analyst, index investing isn't exactly an adrenaline rush. Under societal pressure, I decided to test a few hacks and dive deeper into it ;)
I set out to compare three of the most popular U.S. index ETFs – SPY (S&P 500), QQQ (Nasdaq 100), and IWM (Russell 2000) – and analyze how to implement a brief technical analysis into index selection could influence long-term results. Starting in 2005, I "invested" $1,000 every quarter, completing a total of 81 test purchases. Each time, I selected the index that technical analysis suggested was in the strongest position.
If done strictly and consistently, there were often situations where all three indices had just reached their all-time highs. In those moments, I had to make a choice. Technical analysis is not just about drawing lines on a chart – experience, market intuition, and behavioral patterns of the price play a big role here.
My Test and Strategy
The goal was to compare the following three U.S. index ETFs:
- SPY (S&P 500)
- QQQ (Nasdaq 100)
- IWM (Russell 2000)
Test conditions:
- Start date: 2005
- Investment period: 81 quarters
- Mandatory quarterly investment: $1,000
- Index selection: Based on technical analysis and market intuition.
Distribution of trades during the test period:
- SPY: 35 times
- QQQ: 31 times
- IWM: 15 times
The chart illustrates SPY, QQQ, and Russell with blue arrows marking purchase points.
Results of the Experiment
Performance of my strategy:
- +344% return
- Invested: $81,000
- Final value: $360,000
Comparison indices (each quarter regular purchases):
- SPY: +233% (final value: $272,000)
- QQQ: +579% (final value: $552,000)
- IWM: +128% (final value: $186,000)
My strategy outperformed SPY and IWM because I focused on selecting the ETFs in the strongest technical condition at the time. While QQQ delivered higher absolute returns, my diversified approach offered competitive returns with lower risk and more stable outcomes.
Key Takeaways
1. Diversity and Stability: Risk Mitigation and Return Optimization
The goal wasn't just maximum returns but also reducing risk and adopting a smarter approach. While QQQ had the highest returns, remember that it is heavily concentrated in the technology sector, making it riskier. Back in 2005, it wouldn't have been easy to predict that QQQ would outperform. A technical analysis strategy allows for risk diversification by choosing the strongest index at any given time, delivering significant returns while maintaining diversity and stability.
2. Thoughtful Regularity Outperforms Blind Regularity
Strict quarterly investing avoids the biggest mistake investors fear – timing the market. Regularity is crucial, but it needs to be thoughtful. The tests showed that blind purchasing could be costly: for instance, regular SPY purchases would have left $100,000 on the table, and IWM even more. My strategy allowed selecting the strongest index at each point, yielding significantly better returns.
3. Wrong Index Choice Can Be Costly
Had I chosen only IWM throughout the period, my return would have been just +128%. This clearly shows the importance of not sticking to one index but instead evaluating regularly to find the one with the greatest potential at any given time.
How to Choose the Best Index: Follow my Newsletter to Guide You
One of many of the topics of this newsletter (You will find it here, in the profile section, visiting my "website") will be sharing my monthly and quarterly top lists of indices, making regular purchases easier for you. The test proved that sticking to one index isn’t the best way forward – but which one should you choose? That’s where the monthly top list comes in.
I firmly believe this strategy and approach have significant potential to help investors make smarter and more confident decisions. That’s why I’m starting a newsletter, where one of the many topics will be sharing this list regularly:
- The technically strongest indices for investing.
- Explanations of why a particular index is technically more attractive than others.
Conclusion
My research proves that technical analysis and understanding of charts can be powerful tools for long-term index investing. Regularity, fact-based decisions, and risk diversification help achieve optimal results.
Your portfolio deserves better decisions. Don’t waste time analyzing indices yourself.
All the best,
Vaido
SPY 30-Minute Trading Session Tomorrow-Jan 29Trend: Consolidating in an upward channel.
Resistance: $610.78 (key), $604.50 (minor).
Support: $599.37 (mid-channel), $589.78 (bottom).
Indicators: MACD shows mild bullish momentum.
Stochastic RSI suggests oversold conditions.
Scenarios:
Bullish: Entry above $604.50, target $610.78, stop-loss $602.
Bearish: Entry below $599.37, target $589.78, stop-loss $601.50.
Note: Watch for potential market open volatility; request updates if needed.
GEX sentiment zones:
Key Observations:
1. Transition Zone (Blue Box):
* The current price is trading within the Transition Zone (~$600 to $610). This area indicates mixed GEX sentiment, where the price is likely to remain range-bound until it breaks decisively above or below.
2. Mildly Bullish Zone (Green Box):
* Above $610, the green zone extends toward the CALL resistance at $615 and ultimately toward $620.
* A breakout above $610 suggests bullish momentum with a target around $615. If momentum is strong, a gamma squeeze could push it toward $620.
3. Mildly Bearish Zone (Red Box):
* Below $600, the price enters the red zone, with PUT support around $595.
* A breakdown below $600 would likely target $595 as the next stop. A break below $595 could lead to further bearish pressure down to $590 or the extreme bearish zone.
4. Extreme Zones:
* Extreme Bullish Zone: Beyond $620, indicating a strong gamma squeeze.
* Extreme Bearish Zone: Below $590, signaling a potential negative gamma squeeze with increased volatility.
5. Options Oscillator:
* The IVR (Implied Volatility Rank) is 17.6, indicating low relative volatility.
* The GEX is predominantly positive (61% CALLs), slightly favoring bullish sentiment, but the proximity to the Transition Zone means caution is needed until a decisive breakout.
Trading Plan for Tomorrow:
Bullish Scenario:
* Entry Trigger: If SPY breaks and holds above $610.
* Targets:
1. $615 (Initial CALL resistance).
2. $620 (Extreme Bullish Zone boundary).
* Stop Loss: Below $608 (inside the Transition Zone to avoid false breakouts).
* Strategy: Look for increased volume and momentum as confirmation. Scale out at $615 and $620.
Bearish Scenario:
* Entry Trigger: If SPY breaks and holds below $600.
* Targets:
1. $595 (First PUT support).
2. $590 (Extreme Bearish Zone boundary).
* Stop Loss: Above $602 (to manage risk within the Transition Zone).
* Strategy: Monitor for a breakdown with significant selling pressure. Scale out at $595 and $590.
Scalping Suggestions:
1. Use the 1-minute and 5-minute timeframes for precision entries around $600 (key pivot).
2. Watch the volume and price behavior near $610 or $600:
* Consolidation near $610 could lead to a breakout (go long).
* Rejection at $600 could lead to a breakdown (go short).
3. Avoid trades within the Transition Zone ($600–$610) unless you see clear momentum.
Key Levels to Watch:
* Resistance: $610, $615, $620.
* Support: $600, $595, $590.
Spy - Path to 666Hello Traders,
At 2008 bottom the market hit 666 on the SPX. So now I am thinking 6666 on the SPX and 666 on SPY is like a magnet. Well I used the Fractal from end of last year and using fibs to make sure the levels were a match and guess what..It ends close to 666 in April this year. I have other things pointing me to April as a "top". So anyways lets see how this plays out.. According to the fractal we will go up till Wednesday (MAG Earnings and Fed Decision) then have a small drop before continuing higher.
Is 666 the final top? Well one one hand it would make sense as we are getting long in the tooth and for some reason they love that number. On the other hand I have cycles that are pointing to one more cycle later this year into summer.
But I would say if we do head up to that number I would be cautious around there and put more into cash incase we get a decent pullback so you can buy things when they get cheaper.
I was one of the few calling for more up when everyone was seeing a Head and Shoulder and saying we topped in December. I knew we had a least one more bull cycle if not two. Here we are at ATH again .. lets see how this plays out.
(Fixed Chart) $SPY Analysis Key Levels & TargetsI made a mistake in the first SPY chart this is the actual trading range for today 591 to 606 and as of right now we’re sitting right at the 50 day moving which is a critical level underneath that we do have that downward facing 1hr 200MA and the 30min 200 for support on the day
SP 500 head n shoulder and cup n handle ?? The chart posted can be counted two ways if a bullish move is about to start First I want to express that the cycles are only holding up till feb 12/13 .So I can count this decline as wave 2 in the 5 waves up forming But the target 6128 was perfect math in which wave a x 1,618 = wave c for wave B top if the bearish count is the right one it would have more downside and it would drop 5861 plus or minus 2 then a bigger rally. But lets talk about this being wave 2 down wave 3 of 5 of 5 would see the rally from today low advance to two targets and both should be within 3 pts First 6183 is where wave 3 is .618 of wave 1 second is 6235 plus or minus 3 I would be VERY CAUTIOUS and look for 6183 The sox index is now ending my first 5 waves down in the bear market in SOX=SMH we should now see a weak ABC rally back to 248/252 . The forecast in SOX was PERFECT and has much much more downside this year. IN the QQQ we should now see a rally 531 alt 537Best of trades WAVETIMER
Nothing bad happendThe US markets fell sharply today. The S&P500 lost almost 2%. Many investors, especially on social media, are wondering whether the “Trump Rally” is now over. I think this is extremely unlikely. As is so often the case, markets tend to exaggerate, both upwards and downwards.
The price slide was triggered by news from China. Th AMEX:SPY ere, the start-up “DeepSeek” has announced that it has AI models that work just as well as their US counterparts at a much lower price and with less data.
This will certainly not have a lasting impact, but it should make us aware that the AI party will be over at some point.
SPY Will Collapse! SELL!
My dear friends,
Please, find my technical outlook for SPY below:
The instrument tests an important psychological level 607.93
Bias - Bearish
Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 596.16
Recommended Stop Loss - 614.42
About Used Indicators:
Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price.
———————————
WISH YOU ALL LUCK
$SPY January 29, 2025AMEX:SPY January 29, 2025
15 Minutes.
AMEX:SPY was around 604 levels most of the time yesterday. This sideways helped the moving averages to rise.
Also 604 was 61.8% retracement for the larger fall from 610 to 594 levels. Hence was resisted yesterday.
It was also 1.618 extension for the rise 594 to 599 to 596 level.
Today holding 602 levels i have a target 606-607 levels.
I will sell below 600 for 598.5 levels.
R: R on sell is not much favorable. So, i will not sell at the moment.
SPY will continue to go up tomorrow and for the rest of the weekI use the Heikin Ashi candlestick as they show more of a directional move within the candlesticks. Today the market went up, although you cannot see that on the Heikin Ashi Candlesticks (just on the regular candlesticks.) Typically, I would not enter until I see 2 green candlesticks on the Heikin Ashi candlesticks. But you can see on the 1-3 hour charts that all the indicators are suggesting an upward move. The 4 hour candlesticks are just about to change to a bullish move.
In the past, the SPY has made a 34 point upward move. This would put the target of 609.
The 1.618 fib move would be 614.38. This is my second target.
Typically, the SPY has had a 9-12 day move in the past once the Heiki Ashi candlesticks turn green. That would make the time target of Jan 27 to 30th. I think the move will be until Jan 30th as the market should decline from Jan 31st until Feb 6th. (just before the release for the employment situation in the USA.) This is my time target.
There could be an extreme move of 53 points to put the target to 628, but that is an extreme move not an average move.
In my past charts, I mentioned I thought the market may decline in February as the market has moved upwards for 3 months and down for one month. I no longer think that will happen due to the market declining from the middle of December to Jan 10th. If you switch to a weekly chart to look at the indicators, you can see there was a decline during that time. Currently, the weekly indicators are just starting to suggest a bullish move.
I use the DMI, Stoch RSI and the MacD as my indicators as well the Heinkin Ashi candlesticks to help with the directional moves.
There is currently a week long Wealth365 Summit with many traders speaking. I have no affiliation with this company. I am just attending the summit to learn more. Check it out here to register... www.wealth365.com
Happy Trading Everyone!
$SPY Price Action Analysis on Three Timeframes www.tradingview.com
Hey there!
One of the key concepts I've embraced in technical analysis is the idea of lower highs & lower lows, as well as higher highs and higher lows. Understanding these patterns has really transformed the way I approach trading and my personal fear & green control during the different market regimes. 📈
Speaking of these patterns, let's check out this simple and clear Big Picture. 📊
Here's a quick snapshot: We have AMEX:SPY analyzed on a monthly, weekly, and daily basis. Check out the chart for more details.
Stay tuned! 🚀
PS: Your likes and comments are incredibly motivating and will encourage me to share more analysis with you.
---
**Disclaimer:** This research abstract is created and is intended solely for informational and educational use. It does not consider the specific investment needs, objectives, or risk tolerances of its recipients. The author`s actual investment positions may differ from the views presented in this post due to different factors. This content is strictly for informational and educational purposes.
---
#Beyondtechnicalanalysis
#ChartPatterns
#Trend Analysis
#SPY
$SPY Price Action Analysis on Three TimeframesHey there!
Let`s look at the update on my recently published idea. Reminder: one of the key concepts I've embraced in technical analysis is the idea of lower highs & lower lows, as well as higher highs and higher lows. Understanding these patterns has really transformed the way I approach trading and my personal fear & green control during the different market regimes. 📈
Speaking of these patterns, let's check out this simple and clear Big Picture. 📊
Here's a quick snapshot: We have SPY analyzed on a monthly, weekly, and daily basis. Check out the chart for more details.
After this angle, is today`s Market Bleeding & Mass Media news so scary?
Stay tuned! 🚀
PS: Your likes and comments are incredibly motivating and will encourage me to share more analysis with you.
---
**Disclaimer:** This research abstract is created and is intended solely for informational and educational use. It does not consider the specific investment needs, objectives, or risk tolerances of its recipients. The author`s actual investment positions may differ from the views presented in this post due to different factors. This content is strictly for informational and educational purposes.
---
#Beyondtechnicalanalysis
#ChartPatterns
#Trend Analysis
#SPY
SPY: Technical Analysis for Today's Trading - Jan. 28Market Overview
* SPY is currently consolidating near the $601 level after recovering from the recent dip to $589.
* Immediate resistance levels include $607 (pre-market high) and $610.78 (major resistance from the GEX).
* Key support levels are $600 (psychological level) and $589 (yesterday’s low).
* The 30-minute chart shows an overall upward trend within a tightening range, suggesting potential for breakout or breakdown depending on the broader market sentiment.
Gamma Exposure (GEX) Metrics
* Call Walls:
* $610: Highest positive NETGEX, indicating strong resistance and possible profit-taking zone.
* $615 - $620: Additional upside targets if momentum strengthens.
* Put Walls:
* $590: Highest negative NETGEX, acting as critical support. Breach below could trigger strong selling pressure.
Options Metrics
* IVR: 24.4, suggesting moderately low implied volatility, offering limited premium opportunities for scalpers.
* Put/Call Ratio: 69.3% PUTs, indicating bearish sentiment among options traders.
Scalping Strategy
Bullish Scenario
* Entry Point: Above $602 after confirmation of volume and momentum.
* Targets:
* First Target: $607 (PMH/Pre-Market High).
* Second Target: $610.78 (Key GEX resistance level).
* Stop-Loss: $600 (ensure a tight stop to minimize losses if momentum fails).
* Indicators to Watch:
* Stochastic RSI: Look for oversold reversal near the 50 level on the 30-minute chart.
* MACD: Ensure bullish crossover confirmation before entering long positions.
Bearish Scenario
* Entry Point: Below $600 with strong downside momentum.
* Targets:
* First Target: $595 (midpoint support).
* Second Target: $589 (previous low and major support).
* Stop-Loss: $602, as reclaiming this level would invalidate the bearish setup.
* Indicators to Watch:
* Volume spikes accompanying the breakdown of $600.
* MACD crossover below the signal line for confirmation.
Scalping Tips
1. Risk Management: Maintain a risk-to-reward ratio of at least 1:2 for all trades.
2. Execution Speed: Trade with tight spreads and monitor key levels closely for rapid changes in momentum.
3. Market Sentiment: Keep an eye on broader indices like QQQ and DIA for correlation and potential sector rotation cues.
Outlook for Today
* SPY's range is likely to remain between $600 (key support) and $607 (resistance) during the morning session.
* A breakout above $607 could push SPY toward $610.78, whereas a failure to hold $600 might trigger a retest of $589.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always trade with caution and manage risk appropriately.
Spy Pullback last week of JanSpice recently tested its previous high, but the volume appears too weak to sustain the level. A pullback to at least 585 seems likely in the last week of January 2025. If 585 fails to hold, the next support level is around 575.
$SPY Analysis, Key Levels & Targets for Day TradersAll right guys this morning we opened with a gap down into a support gap that has the 30 minute two removing average and the one hour two and removing average and we just got above the 50 day moving average and the expected move on the day is between 595 and 601. I do believe it’s possible at this 50 day moving average holds us down, we do have a red signal line.
It’s gonna be a wild week, so don’t feel like you need to rush into any trades, there’s lots of earnings and potentially a ton of volatility. Remember, we have an island gap underneath the tuna, removing average that still needs to be filled.
20 YEARS OF SPY: IS THE BOTTOM IN?Hello Friends!
This is a 3 Week chart of SPY, showing you the past 20 years of price action... From the 2001 dot com bubble, to the 2022 recession, to today in 2023
I decided to explore the possibility of the bottom being in and developed a thesis based on this
Taking a look at the 3 Week MACD, we can see multiple golden crosses as highlighted by the YELLOW CIRCLES
Each and every single time the 3 Week MACD Golden Cross has occurred... It has triggered a multi year long bull cycle for the S&P 500 as shown via historical analysis.
The ONLY TIME this led to a fakeout was during the 2001 Dot Com Bubble era... From Approximately October 1, 2001 to February 14, 2002, SPY was rallying and shows signs of tremendous bullish action. However, turmoil came back in the Bears were in control once again.
The only reason markets continue to crash after February of 2002 was because the price had moved below the 50 WMA as indicated by the giant arrows
Due to weakness in SPY's price action during 2000 - 2002, we were never able to recover ABOVE the 50 WMA and crashed further as a result UNTIL the RSI BOTTOMED below 30
Fast forward to the 2010s, looking at 3 Week price action from December 2011 to the 1st half of 2020::::
You can see golden crosses on the RSI & MACD correlate immensely with multi year bullish price action
And I'd like to come to today as an example...
As of February 16, 2023, SPY is currently holding above the 50WMA level of approximately $401
if we can close above here on March 6, 2023. We will usher in the next Multi year bull run!
We are seeing welcome signs of a bullish reversal taking place, such as the 3 Week RSI continuing to show STRONG signs of bullish divergence playing out since May 31, 2022
The 3 Week RSI Golden Cross in combination with the 3 Week MACD likely also about to close a Golden Cross shows that this market is strong, the bulls remain in control for now, despite these turbulent times
Now I am no financial advisor, but my best advice right now is the following::: hope for the best, and prepare for the worst!
