Nice bounce on an EMA (roughly 5 minute) with a really big bar but stopped at a consolidation zone for now. Need Kudlow on the lawn with great China news.
Big bar explained by twitter feed-
"THAT was a 270 issue buy program with aggressive quote rates that ran at 1:52 $SPY not a Capper...wasn't large enough."
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consolidation, bias is up so still could test the day high or near.
Attachments
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30 minute bars New York hours only. Haven't updated the Elliot wave counts. Added an RSI with automatic markings for divergence. Real point of this is the composite volume profile from Dec 12 to current. Tells a very strong story.
Also shows off the Coral filter trend line to good advantage.
Have to go back to March 2016 to find these extremes.
We're either at the start of a new 4-year cycle or we are going to get shafted by the big funds selling before the next round of tariffs. In either case, oscillators are way overbought here.
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