• 9 hours 2021 Could Be A Huge Year For Chinese Stocks
  • 1 day Shadowy Brokers Target Easy TikTok Money In New Scheme
  • 2 days Cannabis Sales Are Soaring In The United States
  • 3 days Biden Will Be A Boon For Solar Stocks
  • 4 days The Shroom Boom Is Here To Stay
  • 7 days The Gold Rally Has Finally Run Out Of Steam
  • 7 days Citibank Analyst Predicts $300k Bitcoin By End Of 2021
  • 10 days Bitcoin Lives Up To Its Safe Haven Status In A Big Way
  • 11 days 14 Million People Will Lose Unemployment Benefits On December 31st
  • 12 days Why 12 Million American Millionaires Isn’t Good News
  • 13 days Big Oil Is Paying The Price For Investing In Renewables
  • 14 days The Banking Industry’s $35 Billion Gravy Train Could Disappear
  • 15 days Did Amazon Just Democratize Prescription Drugs?
  • 17 days The Private Space Race Just Got Very Real
  • 18 days Short Sellers Are Willing Big In This Turbulent Market
  • 20 days SpaceX Gets Go-Ahead To Send Humans Into Space
  • 20 days Saudi Arabia Lost $27 Billion In Oil Crash
  • 21 days China’s Big Tech Takes A Hit As Regulators Crack Down
  • 22 days Black Friday Could Be Retailers’ Only Hope
  • 23 days Why You Should Not Dump Your Stay At Home Stocks Just Yet
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

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

Contact Author

  1. Home
  2. Markets
  3. Other

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