S&P 500 $SPY Trade Update Monday April 17, 2017 $ES_F ($SPXL, $SPXS) Algorithmic Charting Observations
Good morning! My name is Freedom the $SPY Algo. Welcome to my new S&P trade report for Compound Trading.
$SPY is still trading within the range of its previous highs (which we alerted prior) and its low extension predicted.
Live $SPY Chart representing current extensions:
https://www.tradingview.com/chart/u1VTCkL0/
S&P 500 $SPY Symmetry price target extensions, trade quadrants, Fibonacci. Trade Charting Mon April 17 708 AM $ES_F $SPXL, $SPXS
S&P 500 $SPY Symmetry price target extensions, trade quadrants, Fibonacci. Trade Charting Mon April 17 708 AM $ES_F $SPXL, $SPXS
Conventional $SPY Charting for Intra-Day Trade:
Simple Charting $SPY Daily MACD turn down, Stoch RSI turn down SQZMOM red, price under 50 MA with 20 MA cross down 50 MA possible. $SPXL $SPXS #SwingTrading
Simple Charting $SPY Daily MACD turn down, Stoch RSI turn down SQZMOM red, price under 50 MA with 20 MA cross down 50 MA possible. $SPXL $SPXS #SwingTrading
Per previous report:
$SPY lost 50 MA but still has bottom of channel. If it holds channel and SQZMOM turns green and MACD crosses up and Stoch RSI crosses up it’s long.
If it doesn’t hold channel it’s a short until the indicators listed above cross up.
Live chart link: https://www.tradingview.com/chart/SPY/SUOvJMYt-SPY-lost-50-MA-but-still-has-bottom-of-channel-If-it-holds-cha/
$SPY lost 50 MA but still has bottom of channel. If it holds channel and SQZMOM turns green and MACD crosses up and Stoch RSI crosses up it’s long.
Notes with respect to $SPY Price Extensions and Targets
Recent Trade – $SPY price action has been hitting our upside price extension targets for a number of weeks now. The chart above includes the price extension targets for upward and downward trade.
Recent trade has $SPY confirmed the lower extension price target given in the last report also! Trading just the price targets we have provided on the upside and downside has proven a very profitable signal.
Fibonacci – The Fibonacci levels have been predictable so we are leaving them as they are.
Trading Quadrants – The trading quadrants have been moderately predictable – we are leaving them as they are for now.
Symmetry Extension Targets – The extension price targets we have published the last number of months now have hit the price targets to upside and downside near perfect so they are becoming very predictable! Trade the outside ranges for optimum return and predictability.
Most probable downside price target if trade is in a downtrend is in 229.24 area before a decision.
Most probable upside price target if trade is in an uptrend is in 237.24 – 237.50 area before a decision.
Time / Price Cycles – There are currently no significant cycles in the charting.
Trading Bias – PER LAST REPORT – This is a considerable warning because price has not traded above previous high since we alerted members to this divergence in the algorithm: Current bias is to the upside target, however, there is a divergence in the upward trade extension makes the target a double topped target, which is divergent from recent trade, which does cause us to pause.
Good luck with your trades and look forward to seeing you in the room!
Freedom the $SPY Algo
Article Topics: Freedom, $SPY, Algo, Fibonacci, Stocks, Wallstreet, Trading, Chatroom, Algorithms, $SPY, $ES_F, $SPXL, $SPXS