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Maybe it's a rising wedge which actually doesn't say direction anyway.
Flat open so likely just a range day, a boring one. All eyes are on the Wednesday's rate decision which should be "no no inflation, don't worry, we'll keep printing money until everyone has lots of lots of paper"!
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SPY 5 minutes. The bears won the first half of Friday's action. The bulls won the second half. Choppy today, down a bit from the high and the previous close.
Charts posted are not recommendations. They are just a sharing of information.
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50% chances of double bottom here. Consolidation here would mean breakdown so bulls need a sharp rebound.
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02:00 PM FOMC statement, June 15-16 meeting: As discussed in our FOMC preview, we continue to expect the first hint about tapering in August or September, followed by a formal announcement in December and the start of tapering at the beginning of next year. Our best guess is that the dots will not show a hike in 2023, but it is a close call.
Possible descending triangle, so breakdown is a little bit more likely. Better a little consolidation here before the breakdown otherwise, probably the breakdown would not be for real.
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Very strong bull bar so guess the low was in for today. Once again, most breakout/breakdown simply are false.
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Plenty of companies find ways around it …. and companies report earnings on various dates...
But in general FWIW today starts the buyback blackout period … until generally July 1
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