Just checked what recently happened with SPY after previous Euro summits:
23rd June - next day red - there after strong run up to top of July 7th
21st July - next day doji - there after steep decline to low of August 8th
16th August - next day red - therafter quick decline to low of 19th
17th September - next day red - thereafter steep decline to low of 22nd
So, except for summit in June, last summits resulted in pretty steep declines of 3 to 11 days
good H2 long now I see Cup with Handle, now could be the handle is in the forming or you can say it's bull flag. chart doesn't look bearish so far.
Attachments
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
tdo722 wrote:anyone going long yet? i want to join.
Went Long XLF via FAS at 12.43 Tight stop as I don't have great feeling. Howver up 1% already
Wow, you are brave. saw that but i was chickened to come in and play with u. why didn't u say anything. i would have joined u.
Too busy entering orders to reply. As it was I got in $0.10 higher than I wanted. I eventually got out at break even as I don't feel good going long and holdin gover night. I swing trade, hours, days and sometime weeks. So looking for long term entries. I don't think long right now is long term.
I follow the MA on the 5 min chart which hopefully confirms on longer term charts. It says to be long now OR it says time to add shorts. We'llknow in a few hours time. Entries are right about 75% of the time. Right now we are in consolidation / topping pattern so whip saws.
Just checked what recently happened with SPY after previous Euro summits:
23rd June - next day red - there after strong run up to top of July 7th
21st July - next day doji - there after steep decline to low of August 8th
16th August - next day red - therafter quick decline to low of 19th
17th September - next day red - thereafter steep decline to low of 22nd
So, except for summit in June, last summits resulted in pretty steep declines of 3 to 11 days
Have a nice weekend!
Thanks,it's a good tip. Welcome aboard!
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Cobra wrote:good H2 long now I see Cup with Handle, now could be the handle is in the forming or you can say it's bull flag. chart doesn't look bearish so far.
Have to agree with Cobra here, spy through the pivot. Good luck today guys.
"The only way to get a real education in the market is to invest cash, track your trade, and study your mistakes"
Al_Dente wrote:LISTEN UP SHARKS: The reason why Al can’t turn on a dime is because Al is, let’s spell it out:
T*R*E*N*D F*O*L*L*O … oh never mind, u sharks don’t understand that concept
5m update internals, still on SH because spy couldn’t make higher high, and because u want to decide 4 yourselves (ignore my green/red lines), anything can happen here, esp w Pres Ob speaking, all in hands of shorts right now (as usual)
Perhaps if you explain it a bit because looking at it doesn't tell me much bud.
MrMiyagi: sure, happy to answer questions
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.