One More Close and SPY Will be Running!!!

19 Şub

Typically I share the signals of my King Trading Momentum Strategy, which combines the 5 EMA crossing above the 13 EMA, RSI strength, favorable momentum as measured by ADX plus evaluating recent volume changes and even a little thing called Beta! But this time it is all about technical analysis. On SPY I originally thought we truncated wave 5 but now that we closed above the all-time high just one more close higher to confirm and this one is off to the races. Today it even retested breakout, held and bounced hard higher into close (super bullish). Impulsive waves are important to me with my momentum strategy, as instead of chasing missed opportunities I simply take the next signal on the hourly, as the strategy is optimized for over 100 beloved equities (if enabled in options)! There is always another trade when SPY goes impulsive! Currently signals have fired on TNA, SPXL, SOXL, TQQQ & UDOW (3x leveraged ETFs) just to name a few. If that doesn't make you feel bullish then I'm not sure what will!

20 Şub

Not

Got second close above all time highs!!! Even if we retrace and hold 608 this is extremely bullish! For now, my focus is the 5 EMA, 13 EMA and 20 SMA on daily. Remember that the 20 SMA is the bull trends friend! Not a whole bunch on the economic calendar to move things this week and even next, until the end of the week with PCE...

21 Şub

Not

Comment on whether you think we have a bear flag forming on hourly and are ready to rollover to start heading lower or will we hold it only to rocket to 630/670 area?

21 Şub

Not

Everyone wants to buy the dip at the 20 SMA on the daily, the bull trend's friend, that is until it happens like right now! You buying the dip or worried we are pulling back lower? Comment below...