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Triangle? Anyway it's not a strong rebound so far, triangle basically means the strength between bulls and bears are equal.
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The 3910 area, if hit should present a good short oppurtuinty. First in a while. Its hard to pin down the exact number since it could be anywhere from 3903 to 3910. I tend to favor 3906 or higher but we`ll see. Also the 3820 number is invalidated by any new high over 3875. Notice on the chart how the red avg is holding any declines. Thats normal rally behavior. Then at some point they will test the black avg, eventually breaking it . Im also watching the regression channel for support, resistance.
1) New path outlined based on recent strength. A build up today could lead to the first major accumulation day (>10:1 up volume to down volume) which could signal a new bull leg up
2) Double gap at 397 SPY remains a price objective minimum
3) Bears are losing footing, a few days left of bear moon cycle
4) Should see a rally the rest of July if bullish moon cycle carries things up
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Good breakout at the right time so if no sharp pullback in the next couple of bars then it's an uptrend day.
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Possible cup with handle so breakout to a new day high is more likely.
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1) Bulls in full control for the time being but no major accumulation day today for now
2) SPY 397 remains a reasonable minimum target if we continue up
3) Friday effect tomorrow - tendency for markets to levitate into low volume weekend trade
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