Gold Memberprodigyseven
Gold Member
Tracks posted an update 2 years ago
Happy New Year, everyone!
SPY is starting today with a gap up. Traditionally we see the first week of the year have some bullish movement as cash from selling losers last year for tax purposes is put back into other equities. However, it’s possible this is a bull trap and things could come back down. Filling the gap would definitely give…
Tracks posted an update 2 years ago
The 4H bear cycle is small, but still intact. No confirmation from daily chart yet, but if price moves down today we could see it happen. Next support is at 473.20, which would close out some smaller divergence we saw forming on Monday. There is strong resistance at 476.40, but it’s also the last day of the trading year, so anything…
Tracks posted an update 2 years ago
After hitting ATH on Tuesday, SPY has been moving sideways as it sits in a primary resistance zone. It hasn’t been long enough to really call it a bull flag, so we need the price to cross one of two areas to determine if the next move is bullish or bearish. Above ATH and 479.50 would start the next bullish wave, while breaking below 476…
Tracks posted an update 2 years ago
SPY is a little stuck in this zone. it didn’t break either of the levels we were watching yesterday. Slight adjustments today. Bullish target is still ATH and 479, while things start to get bearish if we break support at 475.35.
After continuing up a bit this morning, SPY started secondary bear cycles around 5am. It is currently below…
Tracks posted an update 2 years ago
SPY continued it’s bullish run again yesterday, making more new all time highs in the pre-market. The last level of primary resistance sits at 479. Beyond that, we need to look at fib levels for targets. The next one would be at 481.31. To get some bearish signals, we would need SPY to drop below 475.15 at the minimum.
Intraday, SPY has…
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