Main Street Trader

I've been a student of the markets for 14 years. I'm still learning and still improving. Posts and charts are my opinions only. Not Financial Advice. DYOR

[Main Street Trader @MStreetTrader]

In my opinion, there's just two scenarios for the S&P $SPY:

1) If it can get up and over ATH at 749.53 (roughly 7500 SPX), then it might continue on up to my blue CB weekly completion at 817.34. If this option plays out, on the way up we'd likely see "normal" pullbacks/dips along the way. But once (if) it gets up there, I'd expect a decent sized correction, probably back down to the blue CB resistance it's currently at at the very least.

2) They take out ATH, maybe dink around for a few weeks, then drop the hammer and drop it. If they do this, I'll be watching for my daily cloud to break low, and then the previous ATH at 697.84 to either break low or hold. If it broke, I'd expect the 200 DMA (black line) to be next. Then, of course, finally the gap at 659.61 would be the next area I'd keep an eye out for. The gap at 659.61 is roughly 10% from where it is currently at.

But if it doesn't touch my blue CB completion at 817.34 first, and instead decides to drop from ATH, it could setup for a huge bull run because my blue CB completion does not invalidate unless 481.80 breaks low. Breaking 481.80 would be a roughly 36% drop from ATH area, and I just don't see that happening right now. It could, sure, but I'd cross that bridge if and when it got there.

This is all just my opinion. You have to do your own research.

[Main Street Trader @MStreetTrader]

@scottmelker Not sure how gold is any different. 🤷‍♂️

[Main Street Trader @MStreetTrader]

@EdwardAlerts $SPY

[Main Street Trader @MStreetTrader]

@coinbureau I understand you want to make this about Trump, but the reality is that these leagues have gotten out of control, and they'll eventually price their retarded asses right out of popularity.

All sports, not just basketball.

[Main Street Trader @MStreetTrader]

If $AIO can stay above the pennant, daily CB resistance at 0.15 might be next. We shall see!

[Main Street Trader @MStreetTrader]

$ETH has touched my daily CB support zone that sits within a larger monthly CB support zone. I'm now looking for this area-ish to hold.

It's a large zone, so a lot of room for them to play around. However, some sort of bottoming formation between 1500 and 1400 would not surprise me at all.

This is just my opinion.

[Main Street Trader @MStreetTrader]

Pay attention to all the influencers that have been saying things like "I'm expecting a bounce here," over and over and over for the last week or two in the crypto space.

Well, it hasn't bounced, and they're not understanding what they're seeing on the charts. I'm not surprised by that either, as most of them are marketers, not traders.

Just sayin.

My targets:

$ETH 1500
$BTC 55,000

Just my opinion, not advice.

[Main Street Trader @MStreetTrader]

Lol

[First Squawk @FirstSquawk]

ANTHROPIC WARNS AI MAY SOON IMPROVE ITSELF WITHOUT HUMAN HELP

ANTHROPIC CALLS FOR GLOBAL AI PAUSE AS SELF-IMPROVING AI DRAWS CLOSER

[Main Street Trader @MStreetTrader]

He's spot on. Wednesday and today were pretty red for me too. But I recognized quickly that the market decided to do something other than what I had planned for, and I cut my losses quickly.

I'm still in the green so far for June... I'd be a lot more green if Wed and Today didn't happen 😂 But I could be deep in the red also had I not cut my losses when I did.

$SPY $QQQ $BTC

[Main Street Trader @MStreetTrader]

@Crypto_Scient The funny thing is this: Crypto has been in a downtrend for almost a year.

This isn't Saylor's fault, it's just what the know-nothings who bought ATH are blaming it on.

[Main Street Trader @MStreetTrader]

$ETH / $BTC chart has just touched my weekly CB downside completion (blue line). Combine this with the fact that ETH has almost reached my 1500 target, and we could soon start seeing a bottoming formation.

Only time will tell...

[Main Street Trader @MStreetTrader]

$MANTA looks like it might want daily CB resistance at 0.095

It has seemingly turned the 200 DMA into support, and my daily cloud looks like it's trying to cross the 200 DMA.

We shall see what happens!

[Main Street Trader @MStreetTrader]

Pay attention to all the influencers that have been saying things like "I'm expecting a bounce here," over and over and over for the last week or two in the crypto space.

Well, it hasn't bounced, and they're not understanding what they're seeing on the charts. I'm not surprised by that either, as most of them are marketers, not traders.

Just sayin.

My targets:

$ETH 1500
$BTC 55,000

Just my opinion, not advice.

[Main Street Trader @MStreetTrader]

I rarely trade past my CB zones... The larger the time frame zone, the more important it is to me. $HYPE reached a monthly CB resistance zone (orange) a week ago. There was no chance I'd look to long HYPE until it broke above it, then retested it with a rejection.

Not sure what happens now as I don't have a setup, but I'll be watching for clues.

[Main Street Trader @MStreetTrader]

$HYPE has just touched monthly CB resistance. I'll be looking for a pullback somewhere in this area.

Maybe it breaks above it, but that might be difficult to do. It's been on quite a rip lately.

[Main Street Trader @MStreetTrader]

$HOOD - I've been watching this one for a while, looking for it to touch daily CB resistance around 98. That resistance also lines up with a gap fill.

[Main Street Trader @MStreetTrader]

$INTC looks a little pumpy in my opinion. I'm looking for hourly CB resistance around 119. We shall see what happens!

[Main Street Trader @MStreetTrader]

$CELH - Looks like this one is headed back down to 25-26. Just my opinion.

[Main Street Trader @MStreetTrader]

$ONDO - Looks like it might want 0.52.

However, it has to get through resistance, and stay above its 200 DMA and daily cloud.

We shall see!

[Main Street Trader @MStreetTrader]

There's my $VVV target.

[Main Street Trader @MStreetTrader]

$VVV looks like it will touch daily CB resistance at 21. It has continued to bounce off my daily cloud, and the recovery today on the LTFs looks strong. We shall see!

[Main Street Trader @MStreetTrader]

@WatcherGuru @PeterSchiff Oh lord, here we go with this clown again. 🤦‍♂️

[Main Street Trader @MStreetTrader]

$VVV looks like it will touch daily CB resistance at 21. It has continued to bounce off my daily cloud, and the recovery today on the LTFs looks strong. We shall see!

[Main Street Trader @MStreetTrader]

@Crypto_Scient In my unpopular opinion, I think 55K touches. My setup is there for it.