SPY - Something isn't right.
REFER TO LINKED SPX CHART FOR ADDITIONAL ANALYSIS.
Pink to blue is the period between Trump announcing tariffs on Mexico to the "deal".
Hmm.
Something isn't right.
A rip on decreasing volume. A breakout on minimal volume, followed by a ride down the trendline. Overbought on every indicator. Stopping just below a top from a previous bounce.
Everything is calling for a false breakout.
However, I'm keeping my options open. A firm breakout of the yellow line indicates a ride up to 296. Otherwise, this bounce is over. Expect an open red or a short rise followed by a devastating retrace.
THE BIG CALL:
The market will no longer be making any more all-time-highs until a rate cut is announced. There will be none during June. We will at least retest previous lows, or break below to hit lows at or below 263.
Feel free to message me your opinions, thoughts, concerns, or disagreements.
I accept commissions for stock analysis, DM for details.
Pink to blue is the period between Trump announcing tariffs on Mexico to the "deal".
Hmm.
Something isn't right.
A rip on decreasing volume. A breakout on minimal volume, followed by a ride down the trendline. Overbought on every indicator. Stopping just below a top from a previous bounce.
Everything is calling for a false breakout.
However, I'm keeping my options open. A firm breakout of the yellow line indicates a ride up to 296. Otherwise, this bounce is over. Expect an open red or a short rise followed by a devastating retrace.
THE BIG CALL:
The market will no longer be making any more all-time-highs until a rate cut is announced. There will be none during June. We will at least retest previous lows, or break below to hit lows at or below 263.
Feel free to message me your opinions, thoughts, concerns, or disagreements.
I accept commissions for stock analysis, DM for details.
Note
More news coming in that the "mexico deal" wasn't so much of a deal. Figured. Stay on your toes for premarket movement. Watching futures to see for pumps / dumps.Note
In regards to the Fed decision, I believe they will refrain a rate cut, but note the possibility. Dovish comments backed with no action, if you will.Note
The most textbook bear flag I've ever seen in my life.
Note
Note
Shooting star candle on daily, pennant in 5m. the stars are aligned for a move.
Note
stuck on 2888.8, gann significanceNote
Still on this view - market is just riding out that yellow resistance line. Will play reactionary on FOMC.
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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.