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KingJulian

11/13/2020 04:10

$SPDR® S&P 500 ETF Trust Here you go folks.
TA for tomorrow Friday 11-13-2020
Find attached two charts, one is daily and other is the 30 min. Draw these and watch the key levels.
350.07 is Where the big battle of bulls and bears will happen. Depends on who wins, these are two scenarios.

Bulls win 350.07: Then we Will go and test the 358.7 level. I want to see it tested once because to come down, that level has to test once. MM always retest key levels thats why i keep stressing these levels.

Bears win 350.07: For this the price action on the 30 Min chart has to close Under and next candle has to open and close under 350.07 to be a confirmation of the downtrend. If this happens, We could see hugee bloodbath as We have 4 gapS To be filled; 343.7, 336.16, 330.2 and 326.6 to be filled and gaps are magnetic 🧲 and Pulls the price action towards them. I do not expect all to be filled at once but tomorrow we could go and fill the 343.7 one😘😘.

Cheers
🤴🤴🤴
SPDR® S&P 500 ETF Trust-0
SPDR® S&P 500 ETF Trust-1
Disclaimer: The comments, opinions and analysis expressed herein are for informational and educational purposes only and shoulk not be considered as individual investment advice or recommendations. Webull is not responsible or liable in any way for comments posted by pur users.

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All Comments(3)

WhiZz_Chalupa11/13/2020 04:50
thank you sir! so your basically saying its most likely bearish tmrw because the gaps.


i posted this earliwr because i honestly felt we were heading down tmrw as well.

(1) classic double top after touching an all time high 364
(2) also forms a descending triangle, failed to produce a higher high
(3) three touches of a support after rising so high can only mean it will be tested and eventually broken


348 seems highly likely for a healthy retracement

KingJulian11/13/2020 04:57

👏👏👏

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liu***com11/13/2020 04:41
So you think tomorrow will be red open?

KingJulian11/13/2020 04:42

That we have to see from overnight futures action😊

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Eddie11/13/2020 04:23
@@KingJulian The best we did was 357.56 in AM.

As odd as it sounds I think we were so overextended we had a (im making up this term) a "gap warp". I think we mostly filled it and can go down now after days of upward magnetic pull.

Eddie11/13/2020 04:48

You know it well. It's impressive.

I started watching SPY obsessivly everyday a 2 months. I realized I could figure out overall market movement (and FAANG) from just SPY. Now i just watch SPY. It moves like a penny stock and is a money machine.

KingJulian11/13/2020 04:39

I Eat sleep breathe SPY so know all the gaps and key levels by heart. Gaps sometimes dont get filled dur to the price action so if the selloff continues, we may see 320 before 358.7 cos we have more gaps to fill on the downside than upside test😊

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