SPY "rebound" fills gap! Watch out for liquidity grab at 439! Right shoulder formation!
- Good performance by SPY on Thursday!
- Bears tried to gap down to overcome support of 434 but did not succeed!
- Bulls came in to support at 434 and pushed it back up
- This could be a bull trap
- Friday action needs to overcome 437 and importantly 439 (MA5 yellow); if not, then is right shoulder of a head and shoulder for that breakdown! Neckline 434 !
- Note MA20 green is indeed coming up to 430
- Bears tried to gap down to overcome support of 434 but did not succeed!
- Bulls came in to support at 434 and pushed it back up
- This could be a bull trap
- Friday action needs to overcome 437 and importantly 439 (MA5 yellow); if not, then is right shoulder of a head and shoulder for that breakdown! Neckline 434 !
- Note MA20 green is indeed coming up to 430
My Watch
- Simple! 439 (MA5). Gets rejected and I look for 434 break or support
- Depending on the moves, might be good possible swing trades.
- Simple! 439 (MA5). Gets rejected and I look for 434 break or support
- Depending on the moves, might be good possible swing trades.
Good luck, all
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73029607 : I'm sitting on sidelines watching this week and just installed app and this is by far some of the best commentary that I instantly want to read daily
Asphen OP 73029607 : thank you. glad you found it useful.