We are close to major support right now, with low volume. This 1195 spx area has a major rising trendline of support intercepting with horizontal support. I don’t see it breaking with some news event to panic the market.
The hour chart trend is clearly down. So moving up may not be easy from here. One thing to not in SPY chart is that the GAP near 119 is almost filled so bulls may try to move up
happened a few mins back but i want to see if it will test it and hold or weather it breaks back up things are not looking good for bulls today and im gonna eat a truck load of mud on my up day call
There seems to be a fight between the 60 minute chart that’s pushing up and the daily, 30 and 15 that’s pushing down. The end of the day these short term charts will realign themselves and should give us the next directional move.
Did you get a screenshot of it? Can you post it, or email it too me?
Anoopsan if im not seeing things im looking at a break in the trend channel on the DJ30 and its quite a big one does your charts confirm this ????
i have pasted on word doc. don’t know how to post
hmmmmmmmmmmmm ok noted on that will take a closer look at that
Red, saw a FP for aapl at 220 : stockcharts/shadburn
We are close to major support right now, with low volume. This 1195 spx area has a major rising trendline of support intercepting with horizontal support. I don’t see it breaking with some news event to panic the market.
The hour chart trend is clearly down. So moving up may not be easy from here. One thing to not in SPY chart is that the GAP near 119 is almost filled so bulls may try to move up
happened a few mins back but i want to see if it will test it and hold or weather it breaks back up things are not looking good for bulls today and im gonna eat a truck load of mud on my up day call
SPY breaks support
http://niftychartsandpatterns.blogspot.com/2010/11/spy-support-levels_12.html
There seems to be a fight between the 60 minute chart that’s pushing up and the daily, 30 and 15 that’s pushing down. The end of the day these short term charts will realign themselves and should give us the next directional move.