S&P500 on the brink at 444! Bollinger band support! Can it hold?
Daily Chart
- Ever since MA5 crossed below MA20, price action has come back up to test MA20 only once; Has stayed below MA5 since then ==> bearish
- Expanding BB with testing of support; Friday closing at BB again, and also confluence with structural support at 444 (last breakout level since 11 July)
- Looking bearish overall
- Ever since MA5 crossed below MA20, price action has come back up to test MA20 only once; Has stayed below MA5 since then ==> bearish
- Expanding BB with testing of support; Friday closing at BB again, and also confluence with structural support at 444 (last breakout level since 11 July)
- Looking bearish overall
30mins Chart
- Cup formation in play with tapering sell channel
- Could still be bear flag depending on next week (key level is 446)
- Cup formation will mean return to test MA20 at 450 again
- Then we would know this was the pullback and we are back in the buy channel
- Cup formation in play with tapering sell channel
- Could still be bear flag depending on next week (key level is 446)
- Cup formation will mean return to test MA20 at 450 again
- Then we would know this was the pullback and we are back in the buy channel
My Watch
- 444 support and 446 to overcome for NOT bear flag
- Break 444, outright bearish down to 432
- Break 446 and we could see 450 and then a bullish cup and handle
- 444 support and 446 to overcome for NOT bear flag
- Break 444, outright bearish down to 432
- Break 446 and we could see 450 and then a bullish cup and handle
Good week coming up. Good luck, all!
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icezzz : How do u trade spy? Also use option? Sell call / spread
KC Yap : no catalyst next week...
AsphenOP icezzz: yes. I'm mainly an options trader.
AsphenOP KC Yap: yup. so hard to tell