Seeing a topping out HNS on the SPY daily. Forming the R shoulder now.
1552-1558 ES range area looks like a logical reversal if this is going to pan out.
SPY is struggling with the 50 day average.
Just a few considerations on my short-mid term charts.
cl against res and looking for breakout. Some gaps above needing filled. Could pull the dow 30 along for a channel break in a couple days.
naz and trans already in breakout pattern.
interesting...
lower lows for the indu while trans and comp chopping along with cl.
long bias short term. watching indu for some volume on the players.
Very close to what I am seeing as well. Watching the res and upper tl on the spx. indu and cl seem to be the wild card for the short term.
thanks for the chart.
bias long as well, but not sure if there is enough power to break this channel (either way).
Tough entering longs when it is already up 8 points. scalps are tough with these 4 point swings (for me).
May have to call it early and go for a run.
wide, stop hunting swings around the pivot. No sense of breakout or breakdown other than the downward trend.
Chop for a bit it looks like. Trans looks happy.
I like seeing the food. Keeps the thread interesting.
Not sure if emg is claiming to make, eat, or poop these meals, but I enjoy the photos.
It doesn't take much to entertain me though. :eek:
So.....correct me if I'm wrong in my assessment.....
The move to fill this could easily prove to be a false breakout of support? Or, if it does break, a somewhat slowed drop to the next heavy buying level?
Am I looking at this right ammo?