HomeTradingTradesSPY 1-14-16

With all the volatility this week, we saw the SPY recovering today from Wednesday’s decline, to end the day just 11 cents below Last Friday’s close. So can this week end up closing in the green or will it be the 3rd week in a row to close in the red?

The Harmonic patterns on the 5 and 15 min Timeframes have been very effective in forecasting and alerting upon the trend changes of the various swings.

Today, from Yesterdays low, we saw an AB=CD pattern, where the HOD was about 8 pennies from 193.34, the start of the PRZ target.

spy-1-14-16-15min

For tomorrow we’ll watch 191.56 on this 15min chart, which could start another leg down.

A 5min chart shows a smaller pattern, which we alerted on twitter:

spy-1-14-16-5min

SPY closed below an entry of a possible Bullish XABCD today (yellow pattern)

The start of the AB=CD PRZ is at 191.17. if it breaks below the PRZ (don’t forget the PRZ consist of 3 levels total, which you can calculate with the Excel calculator) then we’ll watch the XA retrace-projection levels. Note how the 161.8 is right around the low of the week.

With Monday being a holiday, and the futures already following this pattern down, this is the dominant pattern at this time.

We’ll watch were it opens in the morning.

My apologies for the bot not working 100% this week. I had some PC issues, which made me miss half of the day today. yesterday it actually was following deep ITM options, instead of the default 7 OTM and 4 ITM strikes. It did however pick up on some massive ITM puts with next weeks expiration, on midday Wednesday .

 

 


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