SPY has bullish bias after a day downtrending LONG

10 Mar

SPY on the 15 -minute chart is shown to be in a megaphone or broadening wedge pattern since

March 5th. Price is now at the lower support ascending support trend line. The Gaussing

regression line forecast indicator an example of predictive modeling confirms with a prediction

that price will trend up inside the pattern and head toward the upper resistance trendline.

The mass index appropriately has signaled a reversal with a signal line that topped 32 and then

fell below the trigger. I found two long bottoming wicks in the prior two days at nearly the

same bottom level. The line /ray connecting them comes to a value of 512.75 which becomes

my immediate-term target. I will enter a trade of shares along with call options. The call

options are for a next-day expiration striking 513 ( OTM just a little). TEXT BOX correction:

The regression line forecast by Luxalgo's algorithm suggests a reversal and trend up into the ascending resistance.

11 Mar

Catatan

ZOOM in showing immediate forecasted regression line action suggesting a price top
at strike 513 showing how the call expiration strike was set in the above idea

11 Mar

Catatan

Note the predictive modeling is for a rise in SPY during the premarket and then
a fall to the losde of the regular market on Friday by the opening bell essentially
suggesting that overall price will be sideways within a $3.00 share upward
volatility.

18 Mar

Catatan

Spy trended down today and may be at a low pivot after-hours for an uptrending

Tuesday.