We are still stuck inside this Range triangle and this week closed smack dab in the middle again at 390 area. The next 6 Months will be range bound with an anticipated July Break Out to either the upside or downside.
Nota
Because of price compression inside this triangle, there is 1. No edge and 2. No favorable risk to reward. I am sitting outNota
Here is the weekly triangle on ES Futures. Notice the structure is range bound with a flat 21ema.Nota
Flat lined weekly 21ema shows Range bound price. Since October, the ema has been flat at 3950 area. Nota
MACD shows flat momentum on the weekly with a slight bearish biasNota
Here is the 2008 chart showing very similar price action as of today. My whole point in this post is to show that I do not see any signs of bullishness and on the contrary, I see bearishness/ Ranging. Nota
SPY monthly shows way over extensionNota
False bullish narrative. This is what the bulls are expecting but price does not move this way. Nota
This is the type of bearish price action that I am expecting. The monthly MACD clearly shows bearish momentum still in play with more room to go. All signs point to SPY $200 where I will be loading the trucks up.
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As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.