SPDR S&P 500 (SPY)

[NetNeutral]

Take me to Church and I’ll Worship like a Dog…

Ok ALL, we are going to focus on two charts this morning, so get your paper and pencil, we’ll wait…

First Chart, we are going to call the Big-Boy, or Big Picture Chart as it displays in vivid color the Forrest (Bird’s eye view) and not the trees (detailed view).

This chart is me Flavor-Fav as it allows us the ability to apply some simple Math techniques and reverse engineer a possible out come based on the 175 level, the 275 level(what we have extrapolated applying these simple math techniques as being a future 50% level), and the calculated 375 level.

In addition, because we have developed a system that allows us to Plug-In past patterns to the current CLOSE-ing price and it literally spits out a visual, or what-if, of just what said pattern may look like using past percentages applied to the current price levels.

We don’t stop there because we now, in addition to the chart itself (Forrest View), we can get a visual of said forecast being plausible by looking up our proprietary and/or reliable indicators and discerning whether said price action falls within the realm of expected, calculated, and reasonable variations in relationship to past movement of said indicators.

In summary of Big-Boy Chart, we are going to use this as our Main guide for our port Bias as we follow Pin-Action and place our bets. But its our next Chart, what we are going to call the Poor-Boy Chart, that will influence our daily and weekly exit and entry points, along with the “Strategy” we have developed and deployed to grow both our BBP(Big-Boy-port) and PBP(Poor-Boy-Port)…





Second Chart, the PBC(Poor-Boy-Chart), is easily accessible and available to anyone with a computer by going to investing.com and loading (details for loading at EOP(End of Post).

This chart gives one real-time pin-action (in several time frames, pick your poison), along with the ability to draw stuffies and save all items so one can pull up the chart at a later date and all saved items will be displayed for further annotations and/or updating.

Now, we’ve taken the privilege of marking this up for the upcoming week already but maybe you have some other ideas of what you’d like to draw on this puppy, that’s cool but for purposes of today’s Church sermon were going to use the chart already created. Besides, most hear should be familiar with this chart because we posted it like, IDK, 100 times last week, and in several time frames, LOL…

The current pattern, for those Captain Obvi-asses out there, is pointing down as the four-hour TF(time-frame), shows. A Diamond formation is beginning to show up(sometimes referred to a Trap-a-Zoid), and we have yet again, deploying some simple math and drawing techniques, configured a relatively simple outcome scenario and we LIKE IT, LOL…


That said, we have No-reason, at this point, so expect this outcome to play out and instead choose to play this week using the BPC(Big-Picture-Chart) and position our port for maybe a back-test of the March 4th(312.86) level which is pretty close to the HOD on June 4th(313.00), and slightly above the HOD on June 11th(312.15), or what some now call ND-day(Nose-Dive day, LOL)…

IF, and we will bear witness when futures open(although not reliable as to what Spy will open up at on Monday morning), on Sunday, da-Boyz do want to play along and bee our Huckle-berry this week, we should see Spy CLOSE above Friday’s Close(304.21), Monday, Tuesday and most importantly Wednesday!??

In addition,…

1) We have drawn blue horizontal Purple Lines on this chart, along with Dark Blue text, representing Friday’s Upper and Lower ranges. We expect Spy to STAY between these lines at least into Wednesday and we also expect the HOD on Friday (309.08), or the LOD(298.60) to be violated and/or breached on Thursday and/or Friday??

2) We have also drawn in the weekly Upper Range Target(306.08), and Lower Range Target(290.08), based on both the obvious pattern down, and the Vix-ion being at 36 giving us a calculated 16.00 rang for Spy this week?

3) Last but certainly not the least of the three additions, we still have the JunOE (Five Weeks this OE period) represented by the Vertical Blue lines with the one on the left starting at 5/15 and the one on the right ending at 6/23(Monday after the Opex on 6/19).

In summary, the PBC is likely to be our go to for this week and signal either a confirmation of the back-test of 312.86(closing ABOVE Friday’s close, 304.21, EVERY day this week), OR, confirmation of the four-hour Diamond formation and a move lower into Friday’s Opex!??



So that’s the Church sermon for today and we now head to the Golf-Course and play a little money game with da-boys(that’s boys(little b), not Boyz), and see if we can post a score worthy of the win-r’s circle and collect some coin-age from me-compadre’s, LOL…

But, we are going let the Choir take us out this morning with a sweet and simple message, sometimes you just got to let-it-bee, baby just let-it-bee…

As far as the obvious thingy playing out, maybe it WILL, maybe it WON’T…

Can Spy DO the “close every day above last Friday’s” thingy, or maybe we DON’T…

But wither way, sometimes you just let it Bee, LOL..

Investing.com

Click on Markets, then on Indices, then on S&P500…

Click on Technical Chart, let-r load, then click on the “Full Screen” thing in the upper right…

Once completely loaded, click on the “up arrow” cloud and use the “save as” function and plug in a name of meaning…

Then use the tool bar to draw, configure, and add whatever suits you and save using the “Down Arrow” cloud.

Fyi, don’t forget to keep saving, click “down arrow” thingy often…