SPY S&P 500 EFT Trust (SPDR)
Posted: Fri Jan 06, 2023 10:48 pm
This one is like Harmonic City ! And lots of levels to consider.
Daily chart, okay so we are in a Shark Harmonic. We had the anticipated reaction off the completion down to target 1. Now, with a HSI and that stabilisation are we about to embark on a Type 2 Return ? That is the framework. So anticipating that todays candle is signalling at least a retest of the down trend from ATH Jan last year. A break of that may complete that return, and then we are in Type 2 Reversal mode, however, thats too far. The return move is not, or at least looking for signs. Today we had one with a 3 bar break, and a range break. Would like to see head back and do that return as that keeps framework in tact, its navigable which would then mean we can anticipate the Reversal move to T2.
Daily chart, okay so we are in a Shark Harmonic. We had the anticipated reaction off the completion down to target 1. Now, with a HSI and that stabilisation are we about to embark on a Type 2 Return ? That is the framework. So anticipating that todays candle is signalling at least a retest of the down trend from ATH Jan last year. A break of that may complete that return, and then we are in Type 2 Reversal mode, however, thats too far. The return move is not, or at least looking for signs. Today we had one with a 3 bar break, and a range break. Would like to see head back and do that return as that keeps framework in tact, its navigable which would then mean we can anticipate the Reversal move to T2.