Green Prince wrote:The SPY 15 min chart tells the story behind the bearish wedge and false breakout, orange indicator "if" in confirmation should be hitting new highs on this important time frame, instead it is leading negative to new lows.
A good friend of mine told me that if all of this bad news and poor earnings couldn't break the market down nothing could. Always a good sign of buyer exhaustion.
57chevy wrote:FWIW, if the opening gap is filled it's retracing AH sessions, not just one.
I think that may make the action a little more bearish. We shall see.
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Green Prince wrote:The SPY 15 min chart tells the story behind the bearish wedge and false breakout, orange indicator "if" in confirmation should be hitting new highs on this important time frame, instead it is leading negative to new lows.
glad everyone is keeping up the good energy today.
been here lurking...and trying to recover from a pretty bad cold.
i've had pretty much only one chart up on my large screen for me to glance at throughout the day while i laid out on the couch...and that's the AUD/JPY.
currently sitting at the 38 fib, which corresponds with a small breakout consolidation zone. i would really be happier to see it fall back into the "box" whose upper bound is now corresponding with the pivot point at 79.45...