One can easily there's a triangle pattern forming on SPY, it's on the DIA too... but regardless, there's the 200 SMA holding up price and we're neatly tucked between the 20 and 50 SMAs. The daily and weekly stochastics are turning up so price moving back up into the 270 area wouldn't be surprising. It's just what does it do from there. If its a triangle pattern,...
Other than the messiness of 2015 and 2016 the 50 EMA on the weekly has been a clear indicator of market support. While people will say that we've been in a bull market for 8-9 years they often forget that protracted sideways move with significant breaches of the weekly MAs. Well we're bouncing off the 50 again or at least it seems but will it hold. I think its...
I have read many posts about the bears predicting that late Jan's top on the SPY was a blow off top and that we are going lower. That may be right, but blow of tops can also create triangle consolidation formations for a wave higher. Remember that this market is being held by strong fundamentals and liquidity still and that a bubble in equities can go much...
Look for the market to fall back towards the upper line of the orange tunnel. If it enters the orange tunnel, wait to add at when the market hits the support level of the orange tunnel. The red tunnel is a long term tunnel from 2009. Let's hope it doesn't enter the red tunnel.
Lots of fib touches on the way up. 38.2% retracements gives Trump multiple screw-ups and no driverless cars.
Through out my time swing trading i have found that there are some desecrate tools and information i must look at in each equity before i make my final decision, certain criteria like Short interest , days to short , SQZMOM indicator along with a sweet chart that channels up. 1. it all starts at finviz where i search up stocks that fall under the lower priced...
The over all market remains strong. The NFP number is out on Friday and could pop us into the 2100 area. For now the path of least resistance is up. Be smart with your risk.