Also noted in the last several years the explosion of Paper
Precious Metal, like 400% growth. "They" use these to limit
to price of physical metals, and I have assumed for quite a while,
that at some point they will lose control, and then gold could see
$5000 and silver to $45 or $50 and that is just the near time, and
then as always a blow off top and then a mutli-year correction.
What sayeth y'all?
Schwab is buying out TD Ameritrade, and so Thinkorswim is
changing hands yet again, I hope they don't gut it as being a too
powerful tool for the plebs to use.
Matt or Steve, your thoughts.... is this a legitimate wedge and
should we expect a MACD divergence to increase our confidence, or
lack of MACD-D would negate the wedge?
SPX/SPY is getting quite compressed (steep wedge) and there is
some divergence now on 60 minute chart but we have yet to see a
break in structure (still lower highs). Also, noteworthy is
the SPX daily RSI is now in an oversold region which rarely fails
to provide some type of bounce. Also have 5 days down (could
extend but odds favoring a bounce soon just need a trigger).
OPEX tomorrow.
we both would like to see that gap filled on the SPX charts we
have shown, honestly a gap down to fill that gap then recovered
would probably be a good trade low for now, but I want to fill that
gap. about 27 points down on the cash SPX would fill that gap
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Also noted in the last
CCI Divergence may trigger long on ES futures for mean reversion
Posted by steveo on 18th of Apr 2024 at 05:41 pm
Also noted in the last several years the explosion of Paper Precious Metal, like 400% growth. "They" use these to limit to price of physical metals, and I have assumed for quite a while, that at some point they will lose control, and then gold could see $5000 and silver to $45 or $50 and that is just the near time, and then as always a blow off top and then a mutli-year correction. What sayeth y'all?
Schwab is buying out TD Ameritrade, and so Thinkorswim is changing hands yet again, I hope they don't gut it as being a too powerful tool for the plebs to use.
Matt or Steve, your thoughts.... is this a legitimate wedge and should we expect a MACD divergence to increase our confidence, or lack of MACD-D would negate the wedge?
SPX/SPY is getting quite compressed
Posted by steve on 18th of Apr 2024 at 05:58 pm
SPX/SPY is getting quite compressed (steep wedge) and there is some divergence now on 60 minute chart but we have yet to see a break in structure (still lower highs). Also, noteworthy is the SPX daily RSI is now in an oversold region which rarely fails to provide some type of bounce. Also have 5 days down (could extend but odds favoring a bounce soon just need a trigger). OPEX tomorrow.
we both would like to
Posted by matt on 18th of Apr 2024 at 08:09 pm
we both would like to see that gap filled on the SPX charts we have shown, honestly a gap down to fill that gap then recovered would probably be a good trade low for now, but I want to fill that gap. about 27 points down on the cash SPX would fill that gap