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Could be a Rising Wedge in the forming, which may or may not breakdown eventually, so nothing wrong on the Global ES yet.
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Thanks to Mr. BachNut and Mr. Miyagi for bringing to my attention Boeing's affect on DOW, Friday. I tend to ignore all news, for the most part, but that may be perfectly timed for a market pullback.
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Long. No change.
Stop moved up to below Friday's low.
My summation index signal is up but looking overbought.
My composite trend indicator signal is up.
Still waiting for Mr. Market to stop me out.
Maybe Mr. T is right though, and "We're never going down again!!!"
Nonetheless, a 1%-3% drop at some point before OPEX would seem in the ordinary course.
kind look like a symmetrical triangle, so the bias is a little bit on the upside. although nowadays triangle seems always mean reversal. let's see.
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This morning’s SPY high = 168.12
SPY double top resistance = 168.18 (5/22) according to stockcharts (I think their “feed” is Thompson Reuters)
SPY double top resistance = 169.07 (5/22) according to freestockcharts (consolidated BATS feed)
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.