SPY/QQQ Plan Your Trade For 7-25 - Deep Low Bottom (Gap Fill)
This is a rather long video (about 23 minutes) - but I wanted to go over the unique situation presented to us with what I'm calling the "Kamala Shakeout" related to yesterday's deep selling trend.
This video is very clear. We are still in a technical Bearish trend, and I've highlighted the levels needed to switch to a Bullish trend.
Today's SPY Cycle Pattern is a Temp-Bottom. I'm expecting the SPY to attempt to identify support and roll upward - starting a price reversion that may see the price move above $555 over the next 2~5+ days.
But, right now, I'm more concerned with early morning selling pressure trying to fill the GAP Window from early June.
Remember, I'm trying to suggest a pattern reaction (a Temp-Bottom pattern) while highlighting the KEY Ultimate382 levels as confirmation levels for Bullish or Bearish trending.
Yesterday's big selling move was, in my opinion, related to unknowns focused on Kamala Harris' run for POTUS. I believe the markets were waiting for any catalyst related to the uncertainties of a Harris Presidency, and those concerns were reflected in the selling pressure we saw yesterday.
Here we go.
Get some
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
This video is very clear. We are still in a technical Bearish trend, and I've highlighted the levels needed to switch to a Bullish trend.
Today's SPY Cycle Pattern is a Temp-Bottom. I'm expecting the SPY to attempt to identify support and roll upward - starting a price reversion that may see the price move above $555 over the next 2~5+ days.
But, right now, I'm more concerned with early morning selling pressure trying to fill the GAP Window from early June.
Remember, I'm trying to suggest a pattern reaction (a Temp-Bottom pattern) while highlighting the KEY Ultimate382 levels as confirmation levels for Bullish or Bearish trending.
Yesterday's big selling move was, in my opinion, related to unknowns focused on Kamala Harris' run for POTUS. I believe the markets were waiting for any catalyst related to the uncertainties of a Harris Presidency, and those concerns were reflected in the selling pressure we saw yesterday.
Here we go.
Get some
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
Has my research helped you protect and grow your wealth?
Join Ment.Com Expert Growth Today
60-Day Trial, 6-Month Trial, & More.
ment.com
tradetank.com
Follow me on Youtube, TradingView, Others.
Join Ment.Com Expert Growth Today
60-Day Trial, 6-Month Trial, & More.
ment.com
tradetank.com
Follow me on Youtube, TradingView, Others.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.