Rectangular breakout. Continuation of long-term trend.
As we all know the spy is at major trendline resistance again in conjunction with the daily 200sma. What is different this time is that the weekly 20sma is pointing up. This does not yet make for a bullish thesis, but to go short here could be difficult and may be jumping the gun. If we happen to break trendline, I would be long the market as long as we are above...
Big break out today. Long term long here above those shoulders.
Broke down out of recent consolidation. This could end up being a precursor to a double top, too early to say the least.
Testing the 50dma. I would wait to see how it responds in the following days. Could be premature to enter here.
We have a long term trendline breakout dating back to 2017. Also we have a Cup&Handle breakout on the daily.
This is a huge falling wedge dating back to 2017 on the monthly. This will be a long term wedge breakout play.
Cup&handle Pattern. I would sit on my hands until this breaks out of handle on clear conformation with with all standard sma's pointing up.
Pennant Breakdown. Possible fake out, but highly doubtful. I believe we are going to the 100day sma.
Head and Shoulders Pattern. No position. I expect a retest of the neckline or just above. Im Bearish the stock.
Will this breakout or swing down. Keep an eye on macd for conformation down or topline for breakout up.
Possible gap fill on the horizon. 10/20/50sma pointed up. Short term long trade here.