Evening Discussion of $SPY: Structure & Target

I want to reiterate several technical features I see on the S&P 500. I will use $SPY for this discussion.

  1. When we draw a channel (purple structure) from the COVID crash low through the 1/24 low, we can see that the market is attempting to recapture that (and so far has not been able to)
  2. The whole local structure (green structure) “looks” like a bear flag: parallel rails, 3-wave move in total (so far)
  3. I find it interesting that the measured move of the flag fills the almost year-old gap (and so for the time being, that’s where I think we are going)


Note: When articles are first published, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few weeks or so), I make all of the work public. To gain access to my work when it is produced (or to join my Discord chatroom), please consider becoming a patron. Note that there is a 7-day free trial period. More information may be found on my About page and on my Patreon page.

3 thoughts on “Evening Discussion of $SPY: Structure & Target”

  1. Hi Dereck, I’m considering supporting you on Patreon, Could you send me the above analysis as an example of your work. Thank you

    1. I thank you for your interest.

      Unfortunately, I am unable to do that. However, there is a “directory of all posts” that may be found in the left sidebar. If you go to that and scroll down a bit, you will find hundreds of articles that have been released to the public at large. Any number of those will serve as examples of the sort of work I produce throughout each week and month.

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