Just a quick update and going to update on DIA instead of SPY because I have kind of neglected posting anything about DIA despite day trading it almost daily.
So SPYDA (my power couple name for SPY and DIA) are progressing normally. We had some pullback today to retest some resistance and support on SPY, DIA broke below some very steep ascending support, but really nothing to panic about.
As far as I and math is concerned, everything is going okay. We did break down today below 411 on SPY, however, I was incorrect in asserting this as a pivotal statistical level because re-running the analysis, it actually doesn't change much of anything now, just prolongs the anticipated timeframe. Not sure what past Steve was seeing when he ran that analysis but oh well. So sorry about that, don't freak out! I do make mistakes sometimes.! haha
Anticipation for tomorrow is bullishness! Preliminary sentiment analyses on DIA are overtly positive provided DIA sees an open around where it closed today (328). IF DIA gaps down dramatically in the morning, this would be fantastic. Because, for whatever reason, the analysis thinks that a gap down SIGNIFICANTLY increases the likelihood of seeing bullishness. Inversely, if we see a gap up, the analysis thinks we will see a shift towards bearishness. So watch this closely if you are playing SPY or DIA (keep in mind, I am only drawing from sentiment analysis done on DIA and not SPY, however they complement each other).
There really is not much else to tell you. This is more to reassure you that nothing crazy is going on right now, we are fine, everything is fine (aside from society collapsing).
If you want to play DIA tomorrow, look for some support around 326 or 325. If DIA passes below 325 (technically a bearish break level HOWEVER I do not technically have bearish or bullish breaks for DIA because I have not developed a similar model for it as I use with SPY) then that's a sign of more bearishness than I would like to see.
If DIA respects 326 or 325 and moves upwards, we will be seeing 330 and maybe higher if we get some nice momentum :-).
That's it! Leave your questions, comments and critiques below!
Take care everyone!
So SPYDA (my power couple name for SPY and DIA) are progressing normally. We had some pullback today to retest some resistance and support on SPY, DIA broke below some very steep ascending support, but really nothing to panic about.
As far as I and math is concerned, everything is going okay. We did break down today below 411 on SPY, however, I was incorrect in asserting this as a pivotal statistical level because re-running the analysis, it actually doesn't change much of anything now, just prolongs the anticipated timeframe. Not sure what past Steve was seeing when he ran that analysis but oh well. So sorry about that, don't freak out! I do make mistakes sometimes.! haha
Anticipation for tomorrow is bullishness! Preliminary sentiment analyses on DIA are overtly positive provided DIA sees an open around where it closed today (328). IF DIA gaps down dramatically in the morning, this would be fantastic. Because, for whatever reason, the analysis thinks that a gap down SIGNIFICANTLY increases the likelihood of seeing bullishness. Inversely, if we see a gap up, the analysis thinks we will see a shift towards bearishness. So watch this closely if you are playing SPY or DIA (keep in mind, I am only drawing from sentiment analysis done on DIA and not SPY, however they complement each other).
There really is not much else to tell you. This is more to reassure you that nothing crazy is going on right now, we are fine, everything is fine (aside from society collapsing).
If you want to play DIA tomorrow, look for some support around 326 or 325. If DIA passes below 325 (technically a bearish break level HOWEVER I do not technically have bearish or bullish breaks for DIA because I have not developed a similar model for it as I use with SPY) then that's a sign of more bearishness than I would like to see.
If DIA respects 326 or 325 and moves upwards, we will be seeing 330 and maybe higher if we get some nice momentum :-).
That's it! Leave your questions, comments and critiques below!
Take care everyone!
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