Good & Healthy pullback on SPY; Watch how the price action moves in the range 432 to 450 during the next 3 weeks of earnings!
Daily Chart
- MA20 green support coming up at 440
- MA5 still ticking upwards
- Bollinger band expanding which means upper end has room to go
- Obvious gaps between 443 to 448
- MA20 green support coming up at 440
- MA5 still ticking upwards
- Bollinger band expanding which means upper end has room to go
- Obvious gaps between 443 to 448
30mins Chart - Most enlightening!
- Cup and Handle formed with breakout of handle!
- Can clearly see how it has been a series of controlled sell channels but largely still upwards
- Very important to watch where the controlled sell channels go to (especially when it reacts with support levels 448 (top of gap), 443 (bottom of gap), 437 (cup handle breakout) and down to 432 (line in the sand)
- Cup and Handle formed with breakout of handle!
- Can clearly see how it has been a series of controlled sell channels but largely still upwards
- Very important to watch where the controlled sell channels go to (especially when it reacts with support levels 448 (top of gap), 443 (bottom of gap), 437 (cup handle breakout) and down to 432 (line in the sand)
My watches
- Line in the sand for me is 437 (Daily chart bull flag breakout / 30mins chart cup and handle breakout)
- How the gaps are filled (443 to 448)
- Whether the uptrend from the handle breakout is sustained
- Line in the sand for me is 437 (Daily chart bull flag breakout / 30mins chart cup and handle breakout)
- How the gaps are filled (443 to 448)
- Whether the uptrend from the handle breakout is sustained
Overall still bullish for me. Pullbacks are healthy!
Observe, react, don't predict remains my guidance.
Zooming in, I am referring to the white Handle breakout buy continuation channel.
Watch for any breaks below the support. That will signal some form of bearish.
As long as it remains in the channel, we are still bullish.
Watch for any breaks below the support. That will signal some form of bearish.
As long as it remains in the channel, we are still bullish.
You can also see that pullback action on Friday. It is very obviously in a controlled sell channel. Market manipulation.
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meruson :
Asphen OP meruson : haha... what is that icon!?
BeBlessed :
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