03/05/2020 Live Update

[te_fern]

This support seems to still be working...

[Al_Dente]

lower lows: none yet
potential double bottoms: transports, banks
potential double tops: smalls, QQQ, discretionary

[BullBear52x]

I am not greedy, a gap fill will be nice, I am very positive it will.

[BullTart]

backtested the ascending triangle after breaking down and got smacked back down hard - more validation of the triangle

200 sma is now resistance, it is downward sloping, along with the 80 and the 25, all three pointing downwards.

once 3040 is pierced on the downside, look out below!

[Heck]

$SPX BUYING > 2,999.83 edit = UP

SPY BUYING > 300.01 edit = UP

[Al_Dente]

SPX double top doesn't confirm until it trades just below 3000
60min

[Cobra]

So far it's just a range day. Breakout here with strong bull bar in the next couple of bars then it could even be an uptrend day although personally I'll treat it as a range day anyway.

[Al_Dente]

Banks, 8 months, daily

[Heck]

DGX Target + 69 %
From 114.11 to 193.12
+ 1.92 % Dividend

[BullTart]

back test of the triangle - moment of truth!!!

[BullBear52x]

Give me 93, I will call it a day. greed kills.

[BullBear52x]

93

[Al_Dente]

bull 3 push up on fang+
HH
internals bear
5min

[BullBear52x]

no confidence, I am sitting out wait for new buy, 80ish is too strong of a resistance.

[BullBear52x]

will buy in at 62 again, last buy.

[BullBear52x]

behaving like a range day at best.

[BullTart]

Well, there it is!

The moment of truth resulted in a big red bar down after back-testing the ascending triangle! You know what that means...

[MrMiyagi]

European markets closed 13 minutes ago, SPY QQQ rise was likely shorts covering. Should see a pullback and stability after. True move likely won't happen until after 13:00 ET (post-lunch in NYC).

[BullTart]

Very good point - thanks Miyagi-san

[BullBear52x]

I don't want to sell today, but no more buy, I am done.