SPY breakthrough?
Is the consolidation trying to break finally? I dunno... On the 4 hour, it looks like it just tried to. The most recent 4 hour candle/volume is notated with blue arrows, and the same 4 hour period from 24 hours ago is notated with black arrows.
I noticed a couple things: In comparison to the same period 24 hours ago, the volume was light this time. Not only that, but the candlestick 24 hours ago was MUCH bigger (without getting into ticks moved and percentages gained). So, is it trying to break? Or is this going to be another rejection? I'm leaning towards rejection based on volume and tick movement... But I have definitely been wrong before.
I noticed a couple things: In comparison to the same period 24 hours ago, the volume was light this time. Not only that, but the candlestick 24 hours ago was MUCH bigger (without getting into ticks moved and percentages gained). So, is it trying to break? Or is this going to be another rejection? I'm leaning towards rejection based on volume and tick movement... But I have definitely been wrong before.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.