Trendline is holding for SPY
SPY held above downward trendline, which is good news for bulls. Looks like we may have golden cross soon, unless market dump big time to cause the 50MA to move downwards again.
The last time we had this golden cross was in 2020, early July 2020 to be more precise.
Again, some words of caution, we are not out of the woods yet as many big guns have not reported their earnings. Next up: Tesla!
From YouTube
$SPDR S&P 500 ETF(SPY.US$ $S&P 500 Index(.SPX.US$ $Tesla(TSLA.US$ $Apple(AAPL.US$ $Invesco QQQ Trust(QQQ.US$ $Microsoft(MSFT.US$ $Amazon(AMZN.US$ $Alphabet-A(GOOGL.US$ $Salesforce(CRM.US$ $E-mini Dow Futures(JUN4)(YMmain.US$ $E-mini S&P 500 Futures(JUN4)(ESmain.US$ $Direxion Daily S&P 500 Bear 3X Shares ETF(SPXS.US$ $CBOE Volatility S&P 500 Index(.VIX.US$ $USD(USDindex.FX$
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Bobi2206 : Coming back down today
toomanyscammers : what's the significance of the golden cross?
Cow Moo-neyOP toomanyscammers: Bullish sign. It is the opposite of death cross - which is a bearish sign. That said, don’t use only 1 indicator to determine the overall trend
Inferno696 : Love the videos and your content! You spoke about the resistance levels in your video for Google. Can i ask what you think the support levels are just based on the stats?
Thanks for all your help man, you're a champ.
Cow Moo-neyOP Inferno696: Hey! It’s always encouraging to hear that someone likes my content
Anyway, first support for GOOGL is the bottom of “gap up” at 93.6. Next support is 90. Most critical support zone is 83-85
Inferno696 : Alright man I'll look out for those! Keep your posts coming, it's appreciated.
Cow Moo-neyOP Inferno696: Once again, thanks for the support
TradingRoulette : Ready for 390 today?