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Broadening top which unlike the name suggested, can be a continuation pattern so cannot say the top was in, rater I personally read it more as a continuation pattern, we'll see.
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ECB rate hike by 75 bp, will be interesting today.
Cobra if you can tell us, how you see this market move up ?
During trading hours down move was slow and steady while up move was fast and chaotic - like someone was doing eveything they can to keep the market up.
Do you see it also this way or I read market wrong last few trading days
marcueus2 wrote:ECB rate hike by 75 bp, will be interesting today.
Surprisingly, Dollar (UUP) is actually higher by about 2/3 of 1% in the pre-market.
Perhaps a classic case of "buy the rumor, sell the news" regarding Euro strength on the back of the rate hike. The adjustment decline happened yesterday.
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So far has chances being an uptrend day if no sharp pullback in the next 4 bars.
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The SPX volume ratio YESTERDAY gave a buy signal, which usually means more green ahead
(SPX up volume = 9.17x down volume)
(not shown: the NY volume ratio was only 4.75x)
Daily chart as of yesterday's close... ignore vertical lines
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.