SPY forming a potential double bottom on 2022-05-19 at 389 with targets ema50 cross and 444.44.
- RSI bullish divergence (yellow line)
- DJI index forming potential "abandoned baby doji" (3-day reversal pattern)
- Very bearish mainstream news sentiment, including minus 10-18% predictions by big banks in recent days
Note
EMA cross target is hovering around 420 (blaze it).Note
"Successful tape reading is a study of force; it requires ability to judge which side has the greatest pulling power and one must have the courage to go with that side." - Richard WyckoffNote
ema 50 cross target achieved
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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.