SPY daily. Nice move up in May, pushing the outside of the Bollinger. Two day pause now. EMAs 20 50 100 all up and in the correct order. MACD rising. Histogram sliding down. All above zero. Sto flatlined at the top. From all this, what now? No prediction, since it can go up or down. But, look to see...
We don't know which overbought or oversold is the very top or the very bottom, but we do know it's due for a correction. we are at the overbought and ready for a relief rally pull back. Patience, React, and Don't predict. "Don't predict." Agreed. Prediction is fantasy. You could say here ...
ES daily. Back to the top. After 6 weeks of "fooling around," for the sake of the bears. Ha ha. No guarantee of going straight through, however. Safer to wait for breakout, pullback to 5330 and resumption of trend up. 2024-05-15_14-47-45.png Something like this ... 2024-05-15_15-01-02.png
ES 5 minutes. Sudden move up above R1. Forming a base. For the market's next trick ... we will see. Looking to trade for about an hour. Scalps on ES of course, if I catch a move. And day trades on some stocks I am watching, again, if a move cooperates. Ha ha. Expecting a short trading day for me. An...