Sir_William_Wallace

Sir_William_Wallace

I swear by the 5sma/10sma cross, especially on higher time frames. This shows an indicator built for the 5/10sma golden and dead cross on the daily time frame.

Sir_William_Wallace

AMZN has been consolidating for some time beneath a double top around 3554. If the market continues in its uptrend, AMZN could push above and aim for 4000. It's had several failed pushes but continues at the top of the ATHs, allowing the 200ma daily to catch up.

Sir_William_Wallace

TSLA has been consolidating for a few days after breaking out of a long consolidation pattern. Would expect a little more sideways action or maybe a more prominent pullback to the daily 20ma before breaking out of 700 and pushing towards 780, 800.

Sir_William_Wallace

IWM has bullish consolidation at the ATHs where it's been for some time, allowing the daily 200ma to catch up. It's had a number of attempts that have broken down but continues to make higher lows. Looking for a break over this area and current ATH to confirm breakout.

Sir_William_Wallace

The S&P is in a nice channel up on the daily chart, couple scenarios here with the current sideways action. A breakout and pullback to current ATH but that could start with a pullback to channel bottom again first.

Sir_William_Wallace

$SPX continues to maintain its uptrend even if it looks to be slowing down at the moment. It has these areas of consolidation before moving a nice leg higher in this trend. The most likely outcome is a break of the ATH and target 4400, but a break of the trend would make 3800 the next logical stop.

Sir_William_Wallace

Nothing much to say, except how long can it stay this way? It's not a market to short but one to watch.