The pullback means it's just a range day, now perhaps near the range low if not already.
Attachments
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
SPY backtesting that breakout
At the moment, 60% of issues on the NYSE are advancing (compared to roughly 65% at the intraday top)
Options traders are easing up on their call buying
5min
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
NEWS
Powell reiterated that inflation is well above target but the taper is on track to begin soon and end by mid-2022.
He did note that "it's time to taper... not time to raise rates..."
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Testing yesterday's low with volume surge so should be a rebound here first then we'll see. Cannot say this bear shall have legs as it could be a classic breakdown then sharp reversal up.
Attachments
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Chart for the road: negative D, if we closed here. 4450 (cash SPX) should be expected. now that the reversal candle at the overbought level is clear. daily trend following RSI(5) is not yet trigger sell the rip soooo....still in an early stage of short term trend reversal. be careful out there, have a good day mate!. Peace!
Attachments
My comments are for entertainment/educational purpose only. NOT a trade advice.
It's the bear's last stand here to prevent another V reversal.
Attachments
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
The pullback probably will be bought. It's a V reversal again.
Attachments
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.