Looking for a gap up in the morning after the SPY super close. I am not sold that this is the bottom but this blew past the 200 Day MA and showed some life in the last 10 mins. I bought at 9.95 and will ride this back to 10.50 at minimum. 5 min chart is saying if this is bottom we should test 10.80. If this is a bottom on the Daily Chart 12.50 could be the next stop.
Bulls called for backup near the close and shot the price well above the 200 Day MA on the SPY. Bulls not out of the woods yet look to test 262.00 (70% fib) and see a potential dip. If that holds the market is looking Bullish again. However today was a big step in the right direction taking back the 200day MA and the 260 Psychological. I am predicting another...
Looks like we found a Bottom. SPY has been retracing 50-70% on each bounce. I will be riding this back up for the short term until around 258.50 to maybe a touch of 260 before reshorting.
APH bounced back to a 50% fib retracement and was unable to hold. Sitting on last support with the SPY looking like its about to drop. This bad boy should test this 200 day MA in the near future
Soon to retest the 200 day MA in the past month for the 6th time. News of Trump going to war with Amazon who is the last bastion of hope with the SPY. The bulls held off 260 for as long as they could but couldnt make any ground. Fib Retraced 38% and bounced. All signs of a bear impulse on its way leading into Easter. Sticking with the Trend and shorting this puppy!
Cup and Handle Pattern Lets look for a break.
Big Bear Flag Forming on Weed and a Bounce off $33.00. Next week it looks like the 3rd Wave will complete downward and then we could see a big break down in the upcoming week. Upcoming Senate hearing could help or hurt. Everyone seems to be very Bullish here I am going to sit this one out.