• 7 hours Are Bitcoin’s Environmental Risks Overblown?
  • 14 hours Why The Gold Rush Ran Out Of Steam
  • 3 days Coinbase IPO Explodes, But Fails To Keep Its Momentum
  • 4 days China Slaps Alibaba With Record $2.75B Antitrust Fine
  • 5 days The Pandemic Has Culled The Middle Class
  • 6 days Legacy Automakers See Massive Spike In Sales
  • 7 days Tesla's Biggest Competitor Is Going Cobalt-Free
  • 8 days Stocks That Could Benefit From Biden’s $2.5 Trillion Infrastructure Plan
  • 10 days The Mafia Has Expanded Its Influencer Under COVID-19
  • 11 days How Fintech Will Get Skeptics Into Crypto
  • 12 days Monday Markets Rise On Stellar Jobs Report
  • 15 days Not Even Bribery Allegations Can Crush Cannabis Boom
  • 19 days Canada May Become Leader In Booming Battery Market
  • 20 days Nearly 42% Of All Amazon Reviews Are Fake
  • 21 days Kidnapping Is Big Business In Nigeria
  • 22 days COVID Fraud Amounts To Nearly $570M
  • 24 days Art Is Now An Algorithm
  • 26 days TikTok Threatens America, Tesla Threatens China
  • 26 days Small-Cap Energy Sectors With Big Upside
  • 29 days Coinbase Valued At $68 Billion Ahead Of IPO
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

How Millennials Are Reshaping Real Estate

How Millennials Are Reshaping Real Estate

The real estate market is…

  1. Home
  2. Markets
  3. Other

SPY

Obviously this is a projection and may not come to pass. Take a look at the beautiful symmetry with time and price. If SPY does make it to the top of the channel, it would corroborate the fib. retrace. projection.

Sometimes I like to project the fib. to time and price confluence areas without using a fib. ext. model.

We also have a potential gap fill at the 61.8% retrace, after SPY hits the 228 on 12/19/16

Again, this is a forecast and projection, trade accordingly. For this scenario to happen, SPY would have to hold current support near the recent highs, but you can clearly see where that support is.

I am staying long NUGT, being it should be a higher probability trade imo...

Below is the 1 year 2 day SPY chart with current major cycle lows.

SPY 2-Day Weekly Chart
Larger Image

 

Back to homepage

Leave a comment

Leave a comment