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Spamwich
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Specialty: Technical Analysis My early years were not so rich, I had a poor family, at age 12 I landed my first job as dishwasher for $6/hr, by 14 years old my mother suggested to cut grass around our town for extra money, so with what little money I had, I put into some fliers and a lawnmower.... More
  • $SPY Paving The Road For SPY 2000 May Expectations 0 comments
    May 2, 2014 1:33 AM

    The market has been a little sideways for the past couple of months, and this is exactly why I base my expectations off of statistical probability and average price movement. July is still more than a reasonable timeframe for the market to move 150 points from 1870 landing us at roughly 2000 in the month of July.

    Price structure is currently giving us a trading range within an ascending channel , the MACD on the daily has made a lower low at higher prices, so this is giving me a good indication that resistance will soon be broken and new ATH's will be made in the month of May . The weekly MACD has trended lower while price has not made lower lows, this is also good for the bullish case. My upside target for May will be about 1930-1950.

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