Love it. GDP revised down and absolutely no reason to rally, but we do. Time for the deadcat bounce. Target range of 1100 to 1107. Past 1107, and expect a full rally back to possibly 1131.
I'm in cash but dont know yet which way this goes…look at spy on daily…on 5/13..14..17..18 four down days similar to this week and it stopped on the 200sma…then next day it looks like today and many thought held up by the 200 only to blast through it…I think I will wait till Monday to see what happens unless we drop down in the close…tough call here…
It's not a little headfake… it's a big one! LOL
just a little head fake to scare out the bears.
Love it. GDP revised down and absolutely no reason to rally, but we do. Time for the deadcat bounce. Target range of 1100 to 1107. Past 1107, and expect a full rally back to possibly 1131.
S&P 500 BREAKOUT Positive for short term. But the daily trend is still down
http://niftychartsandpatterns.blogspot.com/2010…
Lovely – I am still short.
S&P 500 two minutes chart showing price consolidation
http://niftychartsandpatterns.blogspot.com/2010…
Backtest the upper trendline now and not breaking
FALLING WEDGE S&P 500 UPDATED
http://niftychartsandpatterns.blogspot.com/2010…
Yep… rally is here now.
I'm in cash but dont know yet which way this goes…look at spy on daily…on 5/13..14..17..18 four down days similar to this week and it stopped on the 200sma…then next day it looks like today and many thought held up by the 200 only to blast through it…I think I will wait till Monday to see what happens unless we drop down in the close…tough call here…