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SPY/QQQ Plan Your Trade For 12-10: Bearish Exhaustion
Today's pattern suggests the SPY & QQQ will attempt to trend downward in early trading (trying to find support), then roll into a congestion period finding a Bearish Exhaustion pattern.
As you will see in my charts, I expect the SPY/QQQ to stall over the next 3-5 trading days and then move into a correction period - trending downward before the end of 2024.
Gold and Silver are moving higher as economic data continues to suggest the strong US economy/inflation trends are putting pressure on global markets. This translates into FEAR.
The next big move in Gold/Silver may come before the end of 2024 as well - sending Gold above $2900 and sending Silver above $35.50.
Bitcoin is probably the most interesting chart - setting up a Triple Excess Phase Peak pattern in a broad consolidation range. Currently, the dominant pattern is suggesting a downward price move is very likely. Although, a break above 102k (resistance) could send Bitcoin rallying much higher.
Get ready for some big moves.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
As you will see in my charts, I expect the SPY/QQQ to stall over the next 3-5 trading days and then move into a correction period - trending downward before the end of 2024.
Gold and Silver are moving higher as economic data continues to suggest the strong US economy/inflation trends are putting pressure on global markets. This translates into FEAR.
The next big move in Gold/Silver may come before the end of 2024 as well - sending Gold above $2900 and sending Silver above $35.50.
Bitcoin is probably the most interesting chart - setting up a Triple Excess Phase Peak pattern in a broad consolidation range. Currently, the dominant pattern is suggesting a downward price move is very likely. Although, a break above 102k (resistance) could send Bitcoin rallying much higher.
Get ready for some big moves.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
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