Cobra wrote:Normally, there should be a 2nd leg down, but I won't short this L1 (if indeed, not yet now) on EMA20. I'd wait at least L2.
Cobra I cannot find your explanation of L1 L2 etc. Where do I find it??
In getting started of this board.
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Al, I don't quite understand the volume/color/different "hats"... pls. explain.
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Hi Uempel
It’s a work in progress: volume green = bottoms (often very short term), orangie red = tops, blue=fails (fail means big vol but no top/bottom signal)
I recently got lazy with volume as Cobra is so timely in noting volume signals
Now trying to catch up as vol is such a major “tell” if only I could “read” it properly
Here i’m studying it on 30 min
I’ll get there….. still working on it
Thanks for asking http://stockcharts.com/h-sc/ui?s=SPY&p= ... =244841848
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
very strong rebound, I won't think of shorting anymore. It's good I decided to wait at least L2...
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hourly SPY is very bull-flag'ish. with it about to potentially bust out the top. bears need to stop them here or else we're off to test the recent highs...IMO.