Spy
Hit the targeted move to downside out of rising wedge breakdown. Target of breakdown was 405.92. That could build for another bounce up. depending how market holds up after Msft and goog bounce this could align spy to build a larger head and shoulders pattern. Upside target for now 410 which was reistance prior. To as high as 412.63 if we came to same high as speculated left shoulder. This wouldn’t be in one day of course spy still will most likely have pop ups and rejections tomrrow but it’s possible it could do this idea.
Otherwise looking for a rising channel trend upside that could build throughout the day to lead us into previous 410 support and eventually break. Either way to me I still think shorts will be better just have to be patient for upside moves. Most stocks (tech) found key support again and a few broke support and managed to reclaim at end of day (apple) 163.80 big key level.
Anyways MSFt and ggogle saved the market so far will this contiue or was that a warning sign if what’s to come in coming weeks. Be careful trade levels
Otherwise looking for a rising channel trend upside that could build throughout the day to lead us into previous 410 support and eventually break. Either way to me I still think shorts will be better just have to be patient for upside moves. Most stocks (tech) found key support again and a few broke support and managed to reclaim at end of day (apple) 163.80 big key level.
Anyways MSFt and ggogle saved the market so far will this contiue or was that a warning sign if what’s to come in coming weeks. Be careful trade levels
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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.