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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

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SPY Bull Gift

Updated chart of Spy. No mini crash on 6/29-6/30. Looking for standard deviation and vix to calm down a bit with higher prices from here.

There are two cycles shown on the chart, one blue and one green both suggesting a turn next week.

Using support and resistance along with other indicators, the least resistance for now seem to be up.

The light blue rectangle is a gap fill, resistance from various sources, all within a particular time frame.

This is what I call a gift to the Bulls out there, be happy for now.

SPY Daily Chart

 

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