S&P 500 $SPY Trade Update Tuesday Feb 7, 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.
The levels and indicators from yesterday remain exactly the same so we have left yesterday’s charting in the report below. For now, until there are new levels to report we provide below the intra-day Fibonacci levels charting our traders will use should price break to upside this morning;
Intra-day Fibonacci Trading Levels – S&P 500 $SPY Trade Charting Feb 7 625 AM $ES_F $SPXL, $SPXS
$SPY Intra-day Trading Levels Live Chart: https://www.tradingview.com/chart/SPY/TncYxb2o-Intra-day-Fibonacci-Trading-Levels-S-P-500-SPY-Trade-Charting/
Per Previous;
The first chart below is a form of the most recent charting you have seen.
Fibonacci – The Fibonacci levels have been predictable so we are leaving them as they are.
Trading Quadrants – The trading quadrants for the time frame are also predictable.
Trading Bias and Extension – Added to the chart is an implied extension to the upside based on historical data before the possibility of any noteable pull-back. This puts the interim high at between 230.50 – 230.70. This is the bias of our calculations. First, that price action probability is to the upside before a pull-back, and if so, the extension probability is in the 230.50 range.
Tight Fibonacci Lines for Intra Day Trading our Traders will use with implied historical upside extension. S&P 500 $SPY Trade Charting Mon Feb 6 642 AM $ES_F $SPXL, $SPXS
$SPY Live Trading Chart: https://www.tradingview.com/chart/SPY/AijQcvZT-Tight-Fibonacci-Lines-for-Intrad-Day-Trading-our-Traders-will-us/
$SPY Bullish however MACD negative divergence look to 200 MA – S&P 500 $SPY Trade Charting Feb 6 708 AM $ES_F $SPXL, $SPXS
In the event our bullish bias does not play out, consider / monitor the MACD divergence (down trend) and watch the 200 MA for support.
$SPY Live Chart: https://www.tradingview.com/chart/SPY/g5LKVW0h-SPY-Bullish-however-MACD-negative-divergence-look-to-200-MA/
Ascending Trade Scenario 1 – S&P 500 $SPY Trade Charting Feb 6 653 AM $ES_F, $SPXL, $SPXS
$SPY Live Trading Chart: https://www.tradingview.com/chart/SPY/1ou53bUE-Ascending-Trade-Scenario-1-S-P-500-SPY-Trade-Charting-Feb-6-6/
Price action in this model is intact. Per previous the 200 MA is support. More importantly the implied resistance is similar to the historical data above at 230.53.
Sideways Trade Scenario 1 – S&P 500 $SPY Trade Charting Feb 6 658 AM $ES_F $SPXL, $SPXS
This scenario is also intact. If price ascends above resistance look to it for support.
$SPY Live Trading Chart: https://www.tradingview.com/chart/SPY/oWsddcg8-Sideways-Trade-Scenario-1-S-P-500-SPY-Trade-Charting-Feb-6-65/
The descending model below has a very low probability of remaining intact so there will be no update to it at this point.
Per previous…
Descending with Fib, Symmetry and Time Price Cycle Trade Scenario 1 – S&P 500 $SPY Trade Charting Feb 2 615 AM $ES_F $SPXL, $SPXS
Live $SPY Trading Chart: https://www.tradingview.com/chart/SPY/dIJqIFq8-Descending-with-Fib-Symmetry-and-Time-Price-Cycle-Trade-Scenari/
This chart model is also intact. The important parts are not the general trade direction red dotted lines or that prospective black downward trendline – the downward channel and its associated trading width is the important indicator to watch on this chart.
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, Gold, Algorithms, $SPY, $ES_F, $SPXL, $SPXS