SPDR S&P 500 ETF TRUSTSingkat
Spy
Now turn it around!
2 targets on Spy this week.. the first is 589 gap support.. Also the weekly 20sma is around 589-590 and if you look at your weekly chart fawkery abounds nears the weekly 20.
If we break below weekly 20 which I would say is a 50/50 then price will double to back to 575 or lower trendline like so
Looking at the charts you'll notice something, Spy hit this ATH in Dec led by Tech , this most recent push though was led by Cyclicals, financials, Healthcare.. so let's look at the above
Cyclicals
NYA - Represents 3000 stocks ..
Triple bottom completed at ATH .. price is overextended and closed with a dark cloud cover Bearish candle
XLF
My sell signal really lit up here . Similar triple bottom as NYA..
Daily money flow lit up overbought
Rising wedge here at ATH..
Bearish engulfing candle
Trump election gap is my long term target but the 20/50 is my immediate target at 49.50
XLV
Price stopped at a brick wall here. I'm not surprised though. This sector got really extended and when price approaches the 200sma extended it rarely passes .
Resistance areas
148 price action
Daily 200sma
Weekly 50sma
Immediate target pullback is 144 gap close.
So the 3 sectors pushing spy the last 2weeks are showing a pullback coming this week.
As far as tech goes , you can check out my QQQ post..
10yr chart and VIX look prime for a explosive move next week. Both are showing a bullish falling wedge
TNX 10yr chart
VIX
If by surprised price gaps up .
Entries
1hour chart 20/50sma + 5min 200sma + trendline = good short Entry 603-605.. stop loss over 607
If price gaps down.. short below 599.00 stop loss 602.00
2 targets on Spy this week.. the first is 589 gap support.. Also the weekly 20sma is around 589-590 and if you look at your weekly chart fawkery abounds nears the weekly 20.
If we break below weekly 20 which I would say is a 50/50 then price will double to back to 575 or lower trendline like so
Looking at the charts you'll notice something, Spy hit this ATH in Dec led by Tech , this most recent push though was led by Cyclicals, financials, Healthcare.. so let's look at the above
Cyclicals
NYA - Represents 3000 stocks ..Triple bottom completed at ATH .. price is overextended and closed with a dark cloud cover Bearish candle
XLFMy sell signal really lit up here . Similar triple bottom as NYA..
Daily money flow lit up overbought
Rising wedge here at ATH..
Bearish engulfing candle
Trump election gap is my long term target but the 20/50 is my immediate target at 49.50
XLVPrice stopped at a brick wall here. I'm not surprised though. This sector got really extended and when price approaches the 200sma extended it rarely passes .
Resistance areas
148 price action
Daily 200sma
Weekly 50sma
Immediate target pullback is 144 gap close.
So the 3 sectors pushing spy the last 2weeks are showing a pullback coming this week.
As far as tech goes , you can check out my QQQ post..
10yr chart and VIX look prime for a explosive move next week. Both are showing a bullish falling wedge
TNX 10yr chart VIXIf by surprised price gaps up .
Entries
1hour chart 20/50sma + 5min 200sma + trendline = good short Entry 603-605.. stop loss over 607
If price gaps down.. short below 599.00 stop loss 602.00
Nota
Jobs, earnings , Fed speak , plus Trump sit down calls with Canada and Mexico. I say that to say this, swings ain't guaranteed...
I have some bank puts I'm closing in the first 10min..and will look to short again at some point in the week
Nota
So here are the technicals
SPY
Resistance 593.50 - 595 daily (20sma)
Support 588-589 weekly 20sma
QQQ
Below 512.00 and 510.00 comes
Above 514.00 516.50 and over that 518.00
This short is more about cyclicals and financials then tech with the exception of chips so I wouldn't be surprised if tech got more of a bounce
IWM
Double top in process .. 200sma will get touch this week.. but first gap close at 219.73 then a dead cat bounce to 222.00 price is back below 225 so it's a no long scenario here PERIOD.
Nota
I'm on the sideline. My next trade, I'm hoping Qqq does it's usually pre earnings Tuesday Fawkery and pushes back up to this gap close at 522... I will take a short there with a stop above 524.50.. target 505-510
Nota
SPY 2hour chart...
Wouldn't surprise me if they pulled a typical Tuesday and melt this back up to 602 gap close...
Look to reenter short in that area
Nota
Won't be doing anymore updates or new post until April ... Long term followers know where to find me ✌️
Penerbitan berkaitan
Penafian
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.