Should price break to the upside next week the SPY has a confluence target overhead that includes the 50-day MA (first test of this Moving Average in over a month) as well as a 50% & 100% Fib. projection based on the two underlying seed waves present (A-B-C & C-D-E). This area also happens to align with a measured move of the symmetrical triangle and an untested gap that was left at the close of that green hammer day.
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at firstname.lastname@example.org
I am always open to questions, comments, or suggestions on how to improve this blog.