I use 16 and 24, volatility is way high on my read. over sold on $VIX, over bought on index, we should have a blip pull back first then will see, see the BB on SPX:$VIX it is border line bearish bias under the mid BB.
I had to use the free daily for the ema but these charts are equivalent.
I like my channels, I timed them out over much back testing and the green one combined with the ema is a good entry usually.
I am probably taking a break from the markets until July the 5th.
I am bearish more often than bullish, and I suspect that we will have support until after the holiday.
My comments were dictated to me by homie the clown
Long since Friday close after panic, I am thinking they want 3100/3115 by Thurs Morning. I will cover all longs there and put 50% of holding betting big on a swan dive next week. My cycle work says next two weeks down 2915 , small bounce and down into Aug 2825/2850. I think the highs are in for a while. Very nervous being long here but holding.
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'The central bank’s unprecedented actions allowed companies including Boeing, General Motors and Royal Caribbean Cruises, all hard-hit by the pandemic, to raise significant amounts of capital and stave off possible default—at least for now.' [WSJ]
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Chart for the road: tomorrow it is time to put on a bullish cap, histogram is good, bullish percentage not red any more, candles/bar chart all turning positive. dip will be bought. Peace!
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