SPY 13 week cycle/trendline signal
The first chart shows the position of the likely top for the 13 week cycle. A TL drawn parallel to a SMA of length 1/4 the length of the cycle in question will usually not be violated until the cycle has topped, and the reaction is often relatively violent. For the 13 week, that would be a MA17. The average is of the closes, and the TL can be drawn against closes or extremes but is often best thru the extreme close of the 17 day period.
I added this TL to the chart and showed a closeup of the daily chart. Note how the LOD is right on it, and IMHO this line will provide an important signal to get out/or go short.
The prior comment re short term H&S pattern is cancelled, as I think the move may be lower, to the SPY 126-127 area.
Oddlot
The first chart shows the position of the likely top for the 13 week cycle. A TL drawn parallel to a SMA of length 1/4 the length of the cycle in question will usually not be violated until the cycle has topped, and the reaction is often relatively violent. For the 13 week, that would be a MA17. The average is of the closes, and the TL can be drawn against closes or extremes but is often best thru the extreme close of the 17 day period.
I added this TL to the chart and showed a closeup of the daily chart. Note how the LOD is right on it, and IMHO this line will provide an important signal to get out/or go short.
The prior comment re short term H&S pattern is cancelled, as I think the move may be lower, to the SPY 126-127 area.
Oddlot
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