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makuchaku

Volume profile analysis of SPY for 2019

By makuchaku, in Market Profile

Will you short SPY 2019?  

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  1. 1. Will you short SPY 2019?

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  • Poll closed on 12/31/19 at 02:39 PM

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makuchaku    0

makuchaku
Posted

Hi everyone,

This is my maiden analysis using volume profile - so please don't hesitate to share your feedback.

As per the attached analysis, I think that SPY is primed for a short - for many reasons
- Multiple strong rejection of long positions exist at Resistance R1 and R2 : seems like sellers defending their positions
- Very strong short volume seen at R2 : further signifying sellers who are ready at that level

However, once the price reaches Support S1, there seems to be a strong buying sentiment which has rejected previous shorts. You can see trading ranges & pullbacks to S1 where buyers and sellers seem to agree on a price range, often leading to a buyer dominance.

What do you think?

spy-forecast-april-2019-by-makuchaku.png

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