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Funny, I was just trying to message you when I saw the top is in.
Further down targets I have, not today of course. I feel strongly about $410.50. Pretty sure my 6/14 put will expire worthless, thought 2 weeks out would have been fine. lol
Spy levels on my radar:
419.00
416.00
410.50
409.00
406.75
3rd day in balance area. Doesn't look like it wants to go down. Spy took out 2 target levels that I kind of track. Usually that means it's ready for an upshot.
Lots of talk about inflation fears. Thursday's report looks to be the key. Sideways to up until then I suppose. Nothing else is causing sellers.
Ok, I'm in. Fingers crossed for good things. Looking forward to ShibaSwap.
Looking like it wants to hit that high today.
Spy levels on my radar:
422.50
419.00
416.00
410.50
409.00
406.75
Well, looks like it went above old range high.
I avg down on my 6/14 put. We'll see if there's any significant pullback before then. To get there.
Have a nice weekend.
$421.75 now cleared. Where we going next?
Open levels that I am tracking:
421.75
418.75
416
410.50
These will be hit. Again, the timing is the thing. If I knew that, I'd be a millionaire. lol
How they get there is the ride. I stopped trying to predict what reaction would be with the news.
I need work more on your forks, I think that can help add clarity for me.
Look for the Russell to start rebalancing today.
Pretty impressive move back into value area.
I'll be interested to see what takes it to $410.50, and when it will happen.
Powell speaks tomorrow??
Russell reconstitution is this month, starting tomorrow. Do you have much experience with what this looks like?
https://www.ftserussell.com/resources/russell-reconstitution
You're right, bounced right at 20 MA, which might make it more challenging to get through.
Still, I'm sticking to it because I've seen it work every time since I found it last fall, just sometimes takes longer. I stopped trying to figure out a reason why.
The pattern seems to work well for periods of chop.
Heck, I only spent $100.00 on that 6/14 $406 put. lol
Looks like it paused at your fork middle.
Puts shot up. Wonder if this will fuel another push up?
-Above value high
-Ticks above zero
-adv/dec steady up
I show a potential revisit of SPY $417.00, $410.50, maybe $406.75.
Bought 6/14 $406 Spy Put. Trying a longer term option.
It will resolve at $420.00. Am now curious about what happens next, see same pattern for $410.50 and maybe $406-ish.
Now to just get better at time to actually find success from these breadcrumbs. lol
There's the $418.50 on spy. Still have an unresolved $420.00 to hit.
Looking like it doesn't want to leave value area today.
Spy backtested a downward trend line from the ATH to the penny and held. Doesn't feel like it's going anywhere right now though.
Similar thought. If it goes up, I think spy can tag 418.50, maybe 420.00. I bought a couple lottos at 419. However, feels like when I post entries, it goes the other way. Lol
Good luck.
There were a lot of puts yesterday. I played the big h. Still show a revisit of Spy $418.50 and $420.00.
Looking like 50 MA on the daily is holding. Adv-Dec hit below -2000, but slight climbing, put ratio is high. Thinking a Big H starting from 5/13?
Close to filling that gap from the big drop. Pattern I'm working on said re-touch of $420 on the Spy, however, I'm getting a nervous trigger finger to wait over the weekend & next week. lol
ticks fighting to stay over 0. Adv-Dec steady over 2000. VOLD 45 degree up all day. Will this close at HOD?
I'm in at yesterday's low. Thinking the Spy hits $420.00 again. That's the ride I bought tickets for. lol
Perhaps one more touch of $406.75 though.
Day 3 of selling. Adv-Dec nearing -2000...do you think we're nearing selling exhaustion?
U.S. consumer prices rose 4.2% in April from a year ago, faster than expected
The Consumer Prince Index was expected to increase 3.6% from a year ago, according to economists surveyed by Dow Jones.
insert-text-here
Finding reliable breadcrumbs, trying to polish it. Just like how it showed a re-tagging of $412.30 which happened today, it's showing it going back to $420. Again, just don't know how soon.
Still eye-balling this level, Spy $412.30-ish.
Opened above value, unable to dip back in value area.
However, I show a revisit to spy $412.30 -ish will be made. If that does occur, price will be back under the 20 MA, so assume a visit to the 50 MA might be in order.
Is target 20 MA on the daily?
Looks like big h, if it holds. Ticks above zero.
Adv-Dec & Vold turned green. Could easily move up and finish back in value area.
Value area rejected, VOLD tanking, looks like a lot of Ticks below zero.
But today's low still higher than yesterday's low.
Boy I've been burned before waiting on a retest. Either it never happened, or there was big time premium burn. Glad you got out ahead.
Does that qualify as an excess high?
Is this your pullback?
Looks like hit VAH 3 times today before the dump.
ticks are strong. I noticed they tend to like to maintain to close the 4 hr candle a certain way. That's about to close shortly 12 pm cst
Revisiting the post, the pattern was correct. Spy fell back to $412 and under. Sneaky little sucker.
Looks like a lot of bank earnings AH. Initial jobless claims tomorrow.
Embarrassingly, I need to educate myself better.
Good call. Spy zoomed up to VAH.
A pattern I've been watching suggests SPY will revisit 412, just don't know how soon because ticks above zero, adv-dec up, in yesterdays value area.
Other boards make me laugh, 1% retrace and the world is crashing. lol