"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 8 hours The Secretive Wall Street Firm Betting On Bitcoin
  • 9 hours ‘Data Is King’: The Oil Industry’s Next Most Valuable Resource
  • 10 hours Google Invests $300 Million To Combat Fake News
  • 11 hours Zuckerberg Dodges A Bullet As Facebook Loses Billions
  • 12 hours Tesla Tumbles As Investors Lose Patience
  • 14 hours Are Alt-Coins On The Verge Of A Break Out?
  • 15 hours What Should Gold Investors Expect From The New Fed Chair?
  • 17 hours Who Will Pay For Trump's $60 Billion China Tariffs?
  • 1 day Vladimir Putin’s Mysterious Fortune
  • 1 day Cryptos Resist Social Media Crackdown
  • 1 day The Death Of Dodd-Frank
  • 1 day Bitcoin Bounces Back Ahead Of G20 Meeting
  • 2 days Trump's Trade War Nears Boiling Point
  • 2 days Will April Be A Turning Point For Precious Metals?
  • 2 days Economic Pressures Weigh On Banks And Borrowers
  • 2 days U.S. Political Uncertainty Keeps Stock Markets On Edge
  • 2 days Gold: The Religion Of Currency
  • 4 days Economists Polarized On Trump’s Tariff Plan
  • 4 days Why Are Investors Overlooking Gold Stocks?
  • 4 days The App That Democratized Trading Is Now Worth $5B
Is Barrick Gold Close To Finding A Bottom?

Is Barrick Gold Close To Finding A Bottom?

Barrick gold has been a…

Snap Shares Tank Over ‘Slap Rihanna’ Campaign

Snap Shares Tank Over ‘Slap Rihanna’ Campaign

Snapchat’s share prices tumbled after…

Joseph VanDerveer

Joseph VanDerveer

Joseph VanDerveer is the Chief Technical Analyst with 8 years experience in the trenches trading the markets with a brand new website and service

More Info

Spy Decision Emminent!

Below is a Daily Chart of SPY. I would like to point out a few observations, starting with the two rising wedges that take a little imagination but bare with me.

Watch the lower trendline going forward specially when we are passing a potential 6 month cycle top noted on the chart with two dashed vertical lines.

Along with that 6 month cycle high, take notice of the teal resonation, you can't get much better for some of the textbook cycles that need watching.

These are just 2 cycles labeled just to give you a taste, there are at least a dozen more here that I will leave out for now.

Next take a look at the MACD indicator at the bottom, currently sporting a bearish divergence but still above the zero line.

This chart should give two options here, one bullish and one bearish. Does not get much better than this. One further note, the 50 day and 200 day moving average can't even compare to this type of analysis.

Always keep an open mind and prepare for the worst in any trading decision you make.

SPY Daily Chart


Back to homepage

Leave a comment

Leave a comment

Sign Up For The Safehaven Newsletter