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This morning $SPY showing a small gap down to $285.20 area. The hourly chart (shown) has some room to the first support area at the 20ma. I am looking for a morning pullback to this area ~$284.50, and then a possible long off the support area.
Yesterdays $SPY to $282 call worked out perfectly. Then small late afternoon pullback and this morning $SPY small gap up. Daily chart bullish, and hourly in a range. As long as any early pullback holds $280 area, I like higher as far as $284 area.
Yesterday's call for $SPY to fall to the $279 area worked well. Today looking at a small gap up to $280.50. If $SPY can hold the same $279 area on any early pullback, I like higher to $282 area. If $SPY can get there, its likely a short, but will have to reevaluate real time.
Friday $SPY fell nicely to the $282.50 support area, and then continued to fall another $2 before any kind of long set up appeared during lunch. Today I'm looking to sell a weak rally that holds below $282.50 area. A strong $SPY rally I will probably let it go and just watch.
$SPY small gap up this morning. Hourly chart shows 20ma a good distance below. So I'm bullish, but wouldn't be surprised to see today's gap fade down to the 282.50 area, which would make another great long like on Wednesday. Looking to buy a pullback or new 5 minute uptrend.
Sorry no post this morning. I'm making an effort to post my market bias before 9:00 AM. Today, Just too much sorting out the earnings gaps. Overall still bullish as long as $SPY holds above $280.50 area. Nice plays with $IRBT and $GRUB this morning. Hope everyone did well.
$SPY showing a gap up today over two prior daily highs, and abruptly ended the hourly downtrend. Daily chart is now clear back to all time high at $286.63. I'm bullish, although wouldn't be surprised to see small pullback early. Minor support at $218.18, a good place to look long
Yesterday $SPY held the $279.50 support area, (barley), but was unable to put in any significant bounce. Today, gaping down just below $279.50. If $SPY can not rally and hold early, I am going to say I'm looking lower to the $277.50 area.
Another day and pretty much the same story. $SPY Gaping down into $280 support area. I am looking for a stop near or slightly below $280 to buy this morning. Although, if $SPY can drive below $279.50 and downtrend, this would open up the possibility of a move lower to $278 area.
ok so the $spy held at 280.06 because i said i wanted to buy under $280. :) Hopefully that didn't stop anyone from buying the $280 area. $UAL, $CSX , $ASML and $GWW all worked well as 10:30 longs. #majorleaguestocks
So yesterday we got the rally off the open, but by the time $SPY was done, I was bullish again. With a small gap down this morning, I'm expecting a small pullback and looking to buy a higher low somewhere under $280.
$SPY showing a small gap down today, just below hourly support and yesterdays low. May mean nothing of $SPY can hold and push back higher. However, if an intraday downtrend appears, the daily chart is open lower to the 276.50 area.
Yesterday $SPY found an uptrend and kept it all day. Today, $SPY looks to open relatively unchanged. I'm looking higher as long as the 15 minute trend continues. Happy Friday everyone :)
Yesterday I said the $SPY needed to hold the $276.50 area or I would change to bearish bias. What we got was a weak sideways day with a low of $267.52. So not surprised to see a gap up this morning. Today I'm watching for any small time-frame trend, "up or down" to lead the way.
$SPY gaping down today, leaving yesterdays base above on the hourly chart. I'm keeping an eye on 276.50 area, which was Pre-Market low so far. If $SPY holds above, we may see this gap down fought off. Otherwise if below 276.50 area there is plenty of room to drop on daily chart.