8:56 PM Update
Long term Fibonacci Retracments. We should be looking at the 78.6 and 85% retracment levels that target 1381 and 1440. These are numbers that are being thrown around and the market is closing in on em.
Here is an update of my corrective options for this 2 year rally. Notice the red option? It's almost spot on.
Wow. What a move. The purple H/S target was met at 1361. Will the red one now be fulfilled??
Weekly
Take a look at the weekly MACD. It's turning up and doing it right at long term support. Those unorthodox inverted head and shoulders patterns cannot be ignored either!
SPY - WEEKLY
MACD for SPY is pretty clear on StrategyDesk. Daily MACD is clearly showing that the momentum is up.
EOD Update
I'm just gonna post two 15 min charts below that I'll be watching next week. One counts the move up off the 1294 low as a bullish impulse and the second one as a corrective move.
Both are potentially looking for one final little wave 5 that may target 1370. However, this may be a quick move and then a pullback.
EOD Update
I'm just gonna post two 15 min charts below that I'll be watching next week. One counts the move up off the 1294 low as a bullish impulse and the second one as a corrective move.
Both are potentially looking for one final little wave 5 that may target 1370. However, this may be a quick move and then a pullback.
I'll try to post more later over the weekend.
For the bigger picture options, see yesterday's EOD post.
15 Min Bullish Option
15 Min - Corrective Option
