Ford has touched the bottom support area 3 times and has shown to be a pretty strong area. The top trendline has had 2 touches so far, so the bottom is a more reliable play for the time being. Should it respect the top trend line . We should be looking to sell at $13. I've loaded up and plan to take half at $12, and the rest at $13.
The rejection on AMZN at $83 looks really interesting to me. Each time we hit a major Support area with fear in the markets (show by the red bars below the candle sticks). We have pretty violent reaction the short term trend. To build enough momentum to break through $83 down to $70, I'm looking for a pull back at the levels we're at now to at least $105 (assuming...
Last 3 cycles of SPY have been ~60 days and ~19% on each leg. We have a good chance of coming down to the lower trendline in ~60 days. About 19% on the next leg down.
We had a double top $189 and a hard rejection I noticed that greed was really heavy around that area. Then we broke and retested the $176 area. Seeing how we've got a ton of 200 MA's above us, I would enter here and if we come back to $176, average into the position. I've had numerous bearish signals over the last month and I'm pretty confident about this...
We've recently bounced off of the trendline and shorts are green until at least 360