SPY next two weeks idea / follow up to my last chart
This chart is an update to what I did two days ago.
I thought the target was 280 with possibility of going as high as 290. I am convinced the target is 290 now.
The new rising wedge pattern closes at strong resistance of initial bounce and its at around 290.
Thursday session felt like top curving down. Was it a top?, I dont' think so just yet.
Rising wedge brake downs happen before it reaches its end so anytime between now and 290 we may see a pullback.
Banks are going to come up with their earnings for the last Q, this may be a solid trigger for pullback.
Tuesday - Thursday should see crucial pivot point.
Technicals are hard as the pumping by feds continues, marketers are controlling the market and seams driving it according to their plan.
Wednesday was bad for my day trading, I scored two good trades out of 7, so I am going to stop day trading and focus on short swing position.
Shorts are hurt and I hope things will turn to their advantage. I got out of my short position with really big loss and will look for re entry.
Good luck
I thought the target was 280 with possibility of going as high as 290. I am convinced the target is 290 now.
The new rising wedge pattern closes at strong resistance of initial bounce and its at around 290.
Thursday session felt like top curving down. Was it a top?, I dont' think so just yet.
Rising wedge brake downs happen before it reaches its end so anytime between now and 290 we may see a pullback.
Banks are going to come up with their earnings for the last Q, this may be a solid trigger for pullback.
Tuesday - Thursday should see crucial pivot point.
Technicals are hard as the pumping by feds continues, marketers are controlling the market and seams driving it according to their plan.
Wednesday was bad for my day trading, I scored two good trades out of 7, so I am going to stop day trading and focus on short swing position.
Shorts are hurt and I hope things will turn to their advantage. I got out of my short position with really big loss and will look for re entry.
Good luck
Comment:
did not have idea, I had split screen with another ticker in it. Ill try to update the chart with one screen.