S&P 500 $SPY Trade Update Thursday Mar 16, 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.
Current Trade in $SPY S&P 500.
$SPY Live Price Extension Targets Chart https://www.tradingview.com/chart/SPY/srHSWhjS-S-P-500-SPY-Symmetry-price-target-extensions-trade-quadrants/
S&P 500 $SPY Symmetry price target extensions, trade quadrants, Fibonacci. Trade Charting Thur Mar 16 700 AM $ES_F $SPXL, $SPXS
S&P 500 $SPY Symmetry price target extensions, trade quadrants, Fibonacci. Trade Charting Thur Mar 16 658 AM $ES_F $SPXL, $SPXS
Notes with respect to $SPY Price Extensions and Targets
Recent Trade – $SPY price action has been hitting our upside price targets for a number of weeks now. The chart above includes the price extension targets for upward and downward trade.
Recent trade has taken price very near the latest upside target – ratchet up stops.
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 but they will need some resetting soon.
Symmetry Extension Targets – Most probable revised upside if trade is in uptrend is now 240.29 before a decision – which would make it a double top.
Most probable downside price target if trade is in a downtrend is between 233.12 and 232.75 before a decision.
Time / Price Cycles – There are currently no significant cycles in the charting. There is however a significant time / price cycle terminating in $VIX sometime between now and end of day March 10, 2017 (could extend in to Monday the 13th).
Trading Bias – Current bias is to the upside target, however, there is a divergence in that the upward trade extension makes the target a double topped target, which is divergent from recent trade, which does cause us to pause.
All other charting will be in a full update over the weekend.
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