$SPY Sectors collapse on good volume
Today was a rout after losing the previous 20 day cycle low on $SPY.
Very curious close, as failure of the 5 hour cycle low was happening at around 1415 CST
Today was a failure for the 5 hour cycle to complete and rally at 1330 CST
On the chart it came up to the trendline dropped down through support around 1345 CST and then made a last attempt to allow longs out at 1417 CST on a spike. They IMMEDIATELY GOT OUT and in less than 15 minutes we are below the daily low.
It was tricky due to the buying midday, to see any cyclic activity, but what often happens is the failure happens late in the day.
Just gotta be there at the workstation to see it. I have a trained eye for how the intraday cycles work but they’re mysterious by far… However, when they finally reveal their plan, it is a moment of profit.
And I like trading like this, it allows better profits. But with trading, the psychology is pretty big on days where there are buyers throughout the 3750 $ES area. The whole number, and the recen…