Is SPY due for a Pullback?

C

cactiman

Swing Trade: Bought +1 SPY 100 OCT 13 164 PUT

SPY (November 2012 - July 2013) Uptrend:

23 day Rally: 132.46 to 143.16 = +8.08%
8 day Pullback: 143.16 to 138.19 = -3.47%

34 day Rally: 138.19 to 151.80 = +9.85%
6 day Pullback: 151.80 to 147.29 = -2.97%

32 day Rally: 147.29 to 158.87 = +7.86%
6 day Pullback: 158.87 to 152.74 = -3.86%

25 day Rally: 152.74 to 168.18 = +10.11%
23 day Pullback: 168.18 to 155.73 = -7.40%

15 day Rally: 155.73 to 168.39 = +8.13%
[Pullback: 168.39 to 161.25?? = -4.24%]
 

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That's interesting. Did you label each of the prior inflection points by hand or is there an automatic tool in stockcharts that does that? I'm aware that zigzag can do something similar, but I'm just curious about this example.
 
Quote from dtrader98:

That's interesting. Did you label each of the prior inflection points by hand or is there an automatic tool in stockcharts that does that? I'm aware that zigzag can do something similar, but I'm just curious about this example.
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In StockCharts.com select "Price Labels" and most of the Higher Highs and Higher Lows in the Trend are given.
 
In answer to OP's question, I think yes we're due for a significant correction. New highs with decreasing volume is a bearish divergence for sure.
 
Quote from stevegee58:

In answer to OP's question, I think yes we're due for a significant correction. New highs with decreasing volume is a bearish divergence for sure.
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Plus, this rally is going up faster (towards a climax?) than the other rallies over the past 9 months.
(i.e. 8+% in 15-18 days, vs. 23-34 days)
Though of course there are no guarantees with "back testing".

Anyway, the bet is on and hopefully SPY decides to go down before my PUT Option expires in October!
We'll see.
:)
 
Quote from stevegee58:

Those are zigzag price labels (past stockcharts.com subscriber).
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Quote from cactiman:

In StockCharts.com select "Price Labels" and most of the Higher Highs and Higher Lows in the Trend are given.
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Thank you.:)
 
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