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KingJulian

02/23/2021 23:25

$SPDR® S&P 500 ETF Trust Hello Everyone,

Im sure you all must have been surprised by this rally today at close but nothing to be worrried about. I reworked the Elliot Wave analysis and we are still in a bearish channel (even after this rebound rally). Please find attached the chart for SPX (you can map these levels on SPY as well).

My 30 minchart triggered a ‘flashing red’ signal at close as we ran into the 4th leg of wave-A and got rejected at resistance of 3900 (high of day near close was 3895). Leg 5 started after rejection and it should end up around 3756 (around SPY 375-376; possibly on 2/26) where the Wave-A completeS and wave B starts till 3890 which will eventually get completed at 3670 levels (SPY 366-367; possibly around 3/15).

Keep this chart handy, draw these levels on Your SPY chart and play accordingly.

I sold all my short positions during the end of day rally As i wanted to rework on my TA again and reposition again. So now the TA is done, ill be reopening my SPY and QQQ puts again tomorrow at open.

Please like and comment on this post if you find my analysis helpful so i can keep providing you alerts during the trading day. I dont charge any money as i want to impart all my knowledge to folks who are interested to learn and become independent to tackle markets in future.

Goodluck and see you all tomorrow.



PS: Remember its hard to be a bear in a bull market and profit taking windows are tiny for bears. Mark price levels where you will take profits and move on as you never know when the Algos will be switched on by the MM to fueL such Manipulative end of the day rallies.

$TESLA $Apple
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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(20)

Malik bull02/24/2021 10:12
Bingo! Using cycle analysis points to same result( slim’s chart👇 for those who know him)

KingJulian02/24/2021 13:01

😊👌

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Jake Faytown202/24/2021 03:52
Thank you for the very informative TA. Need more people like your self to share your knowledge.

KingJulian02/24/2021 04:00

Appreciate it

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bea***com02/24/2021 02:53
Thank you for your detailed analysis. It’s very helpful for beginners like me. Do you think it’s a good time to start buying AMZN yet? I want to buy a few shares first and average down if it gets lower but I’m not sure if it’s a good idea now

KingJulian02/24/2021 03:05

Cant give u direct trade ideas 😊 but always listen to ur heart first, its usually always right

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ara***com02/24/2021 02:42
Good stuff @KingJulian . More than your chart, I admire your persistence and patience. Making a plan and sticking to it and ignoring all the noise around you. It takes lot of experience I guess. I am learning patience from you. Thank you!!!
Good luck on you win today.

KingJulian02/24/2021 03:03

Yes planning ur trade and trading ur plan takes a lot of patience. with experience it gets easy

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Jopadi1202/24/2021 02:04
Would you ever consider taking someone on to teach them?

KingJulian02/24/2021 13:03

Plan whatever works for you. TA is same, executions will be different.

Jopadi1202/24/2021 04:17

So my plan for tomorrow is to sell my march 1st 375 put in the morning and then buy by 3:30pm because the past few days its dropped at 3:30pm and prior to rose. Your input?

View all 4 replies

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Eric02/24/2021 01:28
Thank you for sharing with us. There are a whole lot of us that appreciate all the time you spend teaching and sharing your DD. I have learned a lot from you the past few months!

KingJulian02/24/2021 01:29

Thank you Eric. You made an old mans day😊

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High Vibrations02/24/2021 00:52
Wonderful post brother. I appreciate it.

KingJulian02/24/2021 00:52

Ty brother. Appreciate ur kind words

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InThemCharts02/23/2021 23:57
Ah a bear in a bulls market, My favorite snack

KingJulian02/24/2021 00:13

😊👏👏👏 IMO, we will make ATH at 414 on spy but 365 will happen first.

InThemCharts02/24/2021 00:05

I love my corrections as well, great deals on Mara and Tesla if you’re a fan. Just wanna say I do agree with your 375 Spy level because thats also where i see a nice Support but we will see ATH before then in my opinion

View all 3 replies

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readysetsell02/23/2021 23:56
I would love to learn about using that tool. noce work. thanks

KingJulian02/24/2021 00:00

Glad to be of any help

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tra***com02/23/2021 23:55
Hi King Julian, do you use option flow to predict the market? A lot of Spy calls Exp 2/26 showed up today in option sweep flow.

KingJulian02/23/2021 23:59

Also those 2/26 calls is a reason of todays rally at the end. Its just a hope

KingJulian02/23/2021 23:58

No, usually the Options flow volume is speculative in nature. I go by TA which is more factual and dependable than hope.

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jon***com02/23/2021 23:46
Greatly appreciate your analysid as always. One question though - youre targeting the low around 3/15 with stimulus expected on 3/14. do you see stimulus changing this if passed

KingJulian02/23/2021 23:50

stimulus or No stimulus, this is happening. Markets have already priced in the stimulus, when everyone is bullish and invested in the markets, there is no one with money to enter and keep it running. Corrections are healthy and once its done, we continue with New ATH around 414. will post the wave C details when the time is apt

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Viva Las BioDome02/23/2021 23:46
Wave 4 should never overlap wave 1, right 🧐

KingJulian02/23/2021 23:53

Mostly not but sometimes it does

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1000B Capital Group02/23/2021 23:40
great work as always! 🙌

KingJulian02/23/2021 23:41

Thanks brother 👌👍👏👏

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Kris Bay02/23/2021 23:38
Followed, good analysis.

KingJulian02/23/2021 23:41

Happy to help😊

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enkidu02/23/2021 23:37
Appreciate what you're sharing man 🙏

KingJulian02/23/2021 23:40

Appreciate your appreciation of my work

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