SPY 1 min chart showing Open (Blue) and closed (Gold) Pbars - They play a role, imho. But how to use this to trade??
And as I write, they 271.25 PBar is coming into play. The old PBas provided support/resistance points
Carmeggedon is already picking up speed. Auto companies and production levels are rolling over. Expect extended factory closures this summer. Surf the net for charts of upcoming lease returns https://www.youtube.com/watch?v=I54wGOSg_BQ Yoda "you will be" (afraid).
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Junior Buffett wrote:Trump the great turn around again...NK meeting cancelled
I am also hearing that there will be big tariff on car import..which makes sense with his comment couple of days ago to autoworkers that he has a big pleasant surprise for them!
thanks for posting that letter
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
mini rebound target, must exceed it before bulls have some chances.
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breakdown the last low, now let's see if as usual any sharp reversal to trap bulls. Keep going down or consolidation would mean this bear may still have legs.
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sharp rebound upon breakdown as usual, sign. now let's apply the mini target. exceeds it only means bulls took the 1st step toward stable, it doesn't mean bears are over.
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OK, now wait to see how the ema20 gets tested. should be another leg down to test the day low again, but if it simply breaks the ema20, then bears might be over for today.
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