looking at 
SPY we have some key levels I want to see broken. 689.77 for more upside to golden fib level of 693.50 and possibly higher eventually. rsi is showing small bearishness that could easily be shaken off. there is a large trendline on the 4 hour I have strong conviction that we will touch again, when? idk- but we will touch it again.This chart excites me as a bear. I would love to see a strong push up, making the downside to that white line even stronger. profit boxes are marked conservatively as I am a scalp trader mostly and will be looking for break outs and reversals as well as momentum plays mostly on the 4h 15m and 1m. Gaps excite me as a bear, these ghostly floating october candles will come back to haunt us before the ghost of chrismas pasts come back to visit (it will likely gap and retest in november). I would think sooner than later we test that white like and likely jump up off of it on the first test then possibly flush below it. Fundementals and news play into this as well. The news might be the catalyst to allow volume and momentum to flush or propel us upward more.
Remember the market is not "rational" we play in probabilities, patterns, discretion, behavior, politics, and within the space of predictive sentiment.
I'm also watching macro sentiment by looking at
VIXY and 
GC1! even looking at $NASDAQ:TLT. These can help predict SPY & QQQ sentiment.
Watch for earnings and possible gov't shutdown news that might shift price. Any emotional tilt can send price into dramatic (and often temporary) moves. looking at the ADX Dmi +,- there is a due break out coming soon. All points are converging in to the center - aka its getting a little too quiet. I expect a good move sometime this week before we come into 11/10.
SPY we have some key levels I want to see broken. 689.77 for more upside to golden fib level of 693.50 and possibly higher eventually. rsi is showing small bearishness that could easily be shaken off. there is a large trendline on the 4 hour I have strong conviction that we will touch again, when? idk- but we will touch it again.This chart excites me as a bear. I would love to see a strong push up, making the downside to that white line even stronger. profit boxes are marked conservatively as I am a scalp trader mostly and will be looking for break outs and reversals as well as momentum plays mostly on the 4h 15m and 1m. Gaps excite me as a bear, these ghostly floating october candles will come back to haunt us before the ghost of chrismas pasts come back to visit (it will likely gap and retest in november). I would think sooner than later we test that white like and likely jump up off of it on the first test then possibly flush below it. Fundementals and news play into this as well. The news might be the catalyst to allow volume and momentum to flush or propel us upward more. Remember the market is not "rational" we play in probabilities, patterns, discretion, behavior, politics, and within the space of predictive sentiment.
I'm also watching macro sentiment by looking at
VIXY and GC1! even looking at $NASDAQ:TLT. These can help predict SPY & QQQ sentiment. Watch for earnings and possible gov't shutdown news that might shift price. Any emotional tilt can send price into dramatic (and often temporary) moves. looking at the ADX Dmi +,- there is a due break out coming soon. All points are converging in to the center - aka its getting a little too quiet. I expect a good move sometime this week before we come into 11/10.
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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.
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.