Extremely bullish behaviour Daily chart: Back to back gap ups on Daily chart: Demolish resistances in 200SMA, 21 EMA, 34 EMA, Trendline resistance from last year Weekly chart: Demolish resistances at 100 SMA, 21 EMA, 34 EMA Why is any one doubting this move up?
SPX SPY SPX500 has shown clear reversal of trend. 60 min has shown a upward indication after two months. 4hr RSI shows there is another high coming. Expect to clearly break the downward channel and power through to test 4500
Even with the dramatic fall that has happened over the week, the downward indication we had been awaiting from last week (pls refer to last week idea) is yet to be seen on 15 min or 60 min. Most likely going to bounce off the bottom channel and go up Indications based on combined strategy of Bollinger bands, ADX, Volume and Volatility
Price is stuck in a triangle. Medium term. Higher probability for the break of triangle towards the downside Short term: Corrective move from 4200 and 4400 seems to have stalled. Awaiting downward indication Indication is based on Bollinger bands, ADX, Volume and volatility