island top or taking off

Updated

if we hold the 18.50s and break upper 19s retracement will be good enough and well be over rising vwma and trama if we reject 19.75 and close below a significant low on the 5 minute then stiff overhead resistance means were in for low 18s. if we see that close into the upper 19s were headed over 21

Note

price has moved to close the gap. if we hold upper 18s and break above low 19s we should see upper 19s and the next resistance after that is low 21s.
if we resist from low to mid 19s and close beneath 19 into the upper 18s were headed for high 17s.

Note

the key to this is that we stay below 400 spy and see multiple sectors making new intraday lows simultaneously.

Note

VWAP 18.89 and rising slowly if we hold this level and SPX starts making new lows with NDX in pursuit uvxy should head toward mid-upper 19s

Note

if we show 15 minute rsi coming out of overbought as uvxy sells off we will make new lows today or tommorow

Note

double stochastic one minute diverging and overselling

cerealpatterns

Also on:

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.