Short

2x Rejection.... so I'm watching the lows

Updated

Dare I say the immediate trend is down? Well we are getting lower highs and ever so slight lower lows. The last three days were slightly lower wicks each day. Since we can't break and hold 4500 and 4520 more specifically, we may be visiting the choppy area prior (a few small gaps there). It's Thursday, so I'm reviewing to see if we get a fake pop and drop again to end the week.

Sidenote... DIS just broke out of and retested a strong resistance level after earnings. I'm going to see if that pop holds tomorrow.

Note

notice i changed my original bullish harami note from the prev week. the 2 days of consolidation after shifted the pattern, so i'm noting it. also... thought about the fact that the strong bearish engulfing candle is at the top of a very strong run up.

Note

1 hr view - under 200ma
4490 -4500 critical if heading up tomorrow

Note

The reasons...

$SPY $SPX $ES1! Tomorrow's PPI Trading Range Explained

Note

8/11 after PPP

Trade closed: stop reached

held 4475 and took out daily high 8/14. aiming for 4500 - 4520 to see how it reacts at that level.

mommymiles

Mommy Miles :)

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.