somberKing34614

somberKing34614

Spy seems to be in a channel on hourly chart, any dip to 520-525 will probably be bought and short term resistance is around the 550-560 area. Not a trading advice, just an observation

somberKing34614

If SPY sustains above 480 on monthly close, we can consider it as end of wave 4 and the beginning of wave 5. 640 will act as a resistance and once 640 is broken, SPY target would be 695-740 zone where SPY will complete its wave structure. The move from 640 to 700 is most likely retail fomo. Good zone for booking short term profits and for the stocks bought at end of wave 4

somberKing34614

Google bounced from a support level and is currently above ema. If it can sustain above the ema for April close, it can be a positive sign for google. Not a trading advice, just sharing my analysis.

somberKing34614

Onon has corrected significantly from highs and is at a good weekly trendline support with a good green candle. Closing above ema in next week’s candle is an indication of strength