Cobra you agree with me - that the next move down from here might be below SPY 127 and SPX 1270 area ? I think we could see that level next few days from here
Sqwii wrote:Cobra you agree with me - that the next move down from here might be below SPY 127 and SPX 1270 area ? I think we could see that level next few days from here
no idea yet, let's see how this rebound unfolds first.
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technically, it's H4, but let's say H2 at EMA20 long, should have very good chances, but if even this perfect setup failed here, then bulls should be careful, the rebound is not as strong as it appears.
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good, very good, now let's see how the breakout unfolds, we'll know soon if the rebound is for real or just another bull trap.
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i see ascending triangle here plus measured move, so both text book target are the same. let's see.
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Cobra: in your chart book, you haven't updated 6.4.1b extreme high $NYADV (>2600) for a while, is it because it's not enough edge lately?
today $NYADV =2560 so far, have potential to trigger some exteme reading.
Overall I would become bullish if SPY takes out 129.5-129.6 with good volume - if not I would still be bearish.... just a move to resistance and backtest.