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Apparently,the2ndattempttofilltheSPYgap(135to138area)failedthisweek.MarketwillbemorevolatileduringtheEarningseason. Ifputthemarketin6monthrange,thechartisstilldowntrendnow,thenextSPYsupportwillbearound421.Goodluck. [阅读全文]
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TheMarketistooweaktoday,andSPYalreadybrokedownthefirstlineofsupport429,andnowtesting2ndlineofsupportSPY426.Let’sseeifitcanholdthereforawhile. LooksliketherecentreboundfromOct4technicallyendednow,anditisarelativelyweakreboundcomparedlasttwo. IfyougraphtheSPYchartfromJuly31tonow,itisapparentlystillindown-trendtrack.Iamnotverysureknowifthereisstillanotherdown-legtowardsSPY400area,butithas...[阅读全文]
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10/20/23.Marketisstillprettyweaktoday. AsIsaidyesterday,the2ndlineofsupportofSPY426doesnotholdlongenough,andnowSPYistestingtheveryrecentlow421area.Mostlikely,theSPYwillcloseabove421today.Otherwise,itwilltriggerpanicsellpressurethisafternoonornextweek. IfyouplotthechartfromJulytonow.Thedown-trendpatternisprettyclear,i.e.lower-high,andlower-lowpatternmonthtomonth.Thissimilarpatternshappenedint...[阅读全文]
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LookslikemaybesafetostartaccumulatingsomelongpositionsSPYaround410area.Yes,Iloadedsome(around30%)SPYtoday,stopcutwillbearoundSPY395.Itiskindofstillaggressive(left-trading)forthisportionofpositions. Themarketisstillinbigdistributionphase,anddidnotseesignalofchangingdirectionyet.ButmaybetoolaterformetostartanewShortpositionatthispoint. Goodluck. [阅读全文]
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Lookslikeitisastrongattempttochangedirectiontouptrendtoday.Nottoomuchtosaynow,stillneedmoreconfirmation. Lookingforward,holdyourSPYlongpositionifyouloadeditaround410area.Letseenextresistanceareaaround420.Followthetrend,andgoodluck. [阅读全文]
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Iwilltalkalittlebitmoreaboutthemarketcontext/backgroundtodaysotogetabigpicturewearefacingnow. 1.Bigpicture:SinceJuly31,themarketSPYisstillindown-trend.Ithasgonethrough3wavesofdropson8/17,10/3,10/27respectively.Ifweknewthisdown-trendinJuly31,thebeststrategyistoshortwhenitboundthehigher.Butwhoknows. 2.Isthemarketgoingtohavethe4thwavedropinNov,i.e.belowthelowof10/27?Itispossible,butnobodyknowsi...[阅读全文]
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(2023-09-07 07:31:17)
2023-09-07.Marketmayretestrecentlow430-436(SPY)inthecomingdays.Ifitfails,recentrallyisover.Marketwillfind/estabishanewbasemaybearound400-410(SPY).Goodluck.[阅读全文]
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