06/29/2024 Weekend Update

[Cobra]

Down 1 week, the next week has 60% chances to close up.

[JFR]

SPY daily.

A very wide trading range, going nowhere.

At the level of all-time highs.

Needs a breakout.

It keeps knocking on the ceiling, bullish behavior, but if it gives up, the bears will take over, and it will enter a strong pullback.

Going back to May, it has been climbing the "wall of worry," a dance of two steps forward and one step back.

Sto is threatening to move beneath the 80 marker.

MACD is starting to move beneath its signal line, and the Histogram is sliding down, and moving beneath zero.

The EMAs are up, and in the correct order.

As expected Volume by Price is sliding to the right at the present price level.

Mixed indicator readings.

For this trader, until the charts tell me differently, my bias is up, but with finger poised near the exit button on trades and holdings.

Have a good weekend.

[BullBear52x]

From"It is what it is department" 2 x top rejection with high volume (SPX volume > 3B). on the classical chart pattern, we have new HH, so , the LL need to be more under the previous lows to gear up for LH sell setup,we should have the answer on Monday trading.

Swing setup: wait for new rip sell entry, Rip will be sold, keep it simple.

Intraday: Friday closed with a very negative price action, I am expecting weakness to continue. but then again, fibo is the guide for day trade. Trade well, Peace!

[koolblue]