SPY/SP500 Bearflag continues

Until it doesn't.....

Lots of moves last night and this morning, a very complex correction. I got stopped out of my longs and have been waiting for a resolution. Still looking like a bearflag overall. Below the red channel line would give this idea more confidence. Target to the upside could still be 2550-60 area, we'll just have to see. Good luck to all

ความคิดเห็น:

Purple Channel from yesterday still shaping the price. If we get to the top of the channel, that would get us near/over 2550.

ความคิดเห็น:

Looks like we're going up. 2560 (price area) needs to hold for the bear case to play out. Upper channel from last update is my target area.

ความคิดเห็น:

OIl hit resistance, usually influential to the market movement.

ความคิดเห็น:

Channel still holding back price. .5 fib at 2929 was hit which was originally my first target for my longs. Futures chart is delayed, but you get the idea

ความคิดเห็น:

SPY trendline "appears" to be breaking down - worth watching

ความคิดเห็น:

Waiting for a retrace to enter short, for example -

ความคิดเห็น:

If we don't bounce much, I think a break below the horizontal line would be an option to enter short. As long as stops are relatively close it may work fine.

ความคิดเห็น:

Took a short, stop for me is 250.40. Not a big deal if it gets stopped out. I have to buy food for the next 8 months - later guys

ความคิดเห็น:

stops put into some profit, so it's a free trade. Going to shop finally - good luck!

ความคิดเห็น:

Back from the store, took some profit because we hit the futures trendline. I expect it to break, but we may bounce a little first

ความคิดเห็น:

Completely spitballing here, but this futures trendline might indicate a bounce to around 2485 (sp500 futures chart).

ความคิดเห็น:

Possible bear flag on spy, also broke a trendline and seemed to retest it twice with no success so far.

ความคิดเห็น:

We are again fighting at the Red channel line. Expecting a bounce here, but it may just fail. I'll take profit if they hold it and reenter short if we get under it

ความคิดเห็น:

still battling at that trendline, no decision yet.

ความคิดเห็น:

trendline seems to be breaking down. 2464 on futures should not be passed at this point.

ความคิดเห็น:

ความคิดเห็น:

they saved the line so far, so I stopped out with good profit for the day. It may bounce here or it may fail. I'd rather just watch at this point. still short in gold. Good luck everyone

ความคิดเห็น:

Here are some targets for the bounce. Couldn't help myself and took a small long position

ความคิดเห็น:

Reached the fist target, and immediately sold it, could be a bull trap.

ความคิดเห็น:

quite a battle towards the close, waiting to see if they close above my red trendline on futures.

ความคิดเห็น:

Looks like they will close above it - bullish. However this could also just be an ABC correction, so I'm flat

ความคิดเห็น:

This could be the count, not saying it is, but it makes sense as of now

ความคิดเห็น:

have a great weekend everyone!