The Closing Print live trading and financial blog during market hours.

SPY Beginning a New Bullish Cycle?

SPY 60 minute charts are beginning a new bullish cycle. If the close above its signal line is followed by another bullish day, we should see confirmation in the next day or two. While the index ETF is in the early stages, the 10-day downward leg is showing the early signs of a reversal. Expect some pullbacks to the rising moving averages as price action transitions into this cycle.

SPY Bullish Cycle

Note RSI has spent the majority of this downward leg below 50 until recently. Monday price action shows 7 candles all closing above the 20ma and Bollinger Bands are turning upward. These bands are tight as well, signaling a compression of the higher volatility that preceded Monday’s change in character.



More importantly, TICK cumulative turned upward on Friday, and for the second day closed above its signal line (9ema) to complete a bullish turn. This change in character needs to be followed by another bullish close today, as Renko remains in a range-bound pattern.


SPY Renko 11-27-2018


All things considered, we plan on waiting for confirmation as the week unfolds. A bullish close today would help cement the developing bullish cycle. Look for stocks to respond in kind only after confirmation.

As a side note, the recent down leg in the major indices has frustrated many traders and investors alike. Patience and caution have been warranted over the past two weeks. Therefore, we will continue to take smaller positions until we see some relief from this overriding bearish sentiment. In other words, take less risk.

Futures are trading lower in the pre-market session.

Join us during our LIVESTREAM broadcast during market hours. Watch, listen and trade from 9:20 AM to 4:15 PM Monday through Friday.

Happy Trading,




Disclaimer:  Do your Own Research

Our content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional investment advisor in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise. Trades and or positions listed and taken from the watchlist are my own and should not be considered “advise” to enter any particular position or asset.

Investment Warnings

We would like to draw your attention to the following important investment warnings. The value of shares and investments and the income derived from them can go down as well as up; Investors may not get back the amount they invested – losing one’s shirt is a real risk; past performance is not a guide to future performance.

Live Sessions

Live broadcasts are educational in their content. Proper risk management is considered on every trade or asset mentioned. 

*** Stocks highlighted are for information purposes only and should not be considered as advice to purchase or to sell mentioned securities. 

As always, the use of technical and fundamental analysis is encouraged in order to fine tune entry and exit points to average seasonal trends.

These mentions are stocks that we may or may not decide to trade as outlined in the watchlist. Always use a stop.