patricktapper

patricktapper

Building cause in this trading range waiting to break out on either side of the lines. Need a sign of strength (SOS) bar (large range with volume) to provide a clue as to the direction of the larger move.

patricktapper

I don't really follow it, but if you're looking for areas where it might bounce (not where you'd go long in the first instance), I'd be looking at these demand (support areas). Price can have the propensity to overshoot these levels to trap traders going short on a breakout. Those buy orders (stops) give fuel to any buying rally. These levels are not necessarily...

patricktapper

Critical level here. Could be a last point of supply (LPSY). Otherwise there needs to be a lot of buying volume to come in and move price through this area. The other scenario is that the market moves sideways/pullback.

patricktapper

Market has to follow through otherwise we could drift. Some selling volume seen last week. Coming up to some large supply (resistance) areas. Slightly lower close last week. Very interesting. Sideways - is another way this market could move over the coming weeks.

patricktapper

Weekly bars shows a very important different perspective. Diminished demand and a close below last week. Still no selling. Again we need strong follow through for bulls to indicate they're in charge. Other alternatives is that the market can go sideways for a looong time from here.

patricktapper

SPY is at a critical juncture. Still a lot of selling Friday, but it's coming up to a huge resistance line where a lot of supply has been in the past. Watch for upward follow though Monday, or stopping action around these levels. Anything can happen.

patricktapper

It's had a great run up to these supply lines, where they stopped price action dead in it's tracks for the last few days. The low end closes and selling tails of these bars, together with slightly increased selling volume makes A2M look weak. If you're long you could look to take some profits off the table.

patricktapper

The 60 min chart shows a slightly more bearish background. It may break out of this trading range to signal its overall direction.

patricktapper

Update in this market. No selling is happening in this market so far. It's drifting lower as bulls are taking a break as well. The market peaked at volume supply lines - perfect from a Wyckoff standpoint as the supply line and reverse trend line intersected nicely. If anything, most stocks in the ASX20 look a little weaker if anything. The market needs buying or...

patricktapper

Coming into critical levels. Buying is there, but selling could come in at any time. Watch the previous supply lines

patricktapper

A few critical levels here. Watch for supply coming into this market if it is to pullback. Anything can happen from here.

patricktapper

I'd be looking at exiting or shorting around these levels. There is decreasing volume supporting this current rally.

patricktapper

Long term support coming up. Possible large reversal

patricktapper

Looking to fall back from these areas

patricktapper

roughly from this area. Would be looking for a spring with an ease of movement on a high end close or set of them

patricktapper

Possible rally from this area

patricktapper

possible points of resistance for a rally

patricktapper

First and second resistance areas for ES.