MoneyPatterns

SPXS – Bullish Banana Breakout Confirms SPY Downtrend

Long
AMEX:SPXS   Direxion Daily S&P 500 Bear 3X
Chart Details
Weekly view shows price touching 10WeekMA. (same as SPY but inverse obviously)
Price cross above 10Week should confirm uptrend to gap fills.
Price above aqua blue line confirms uptrend to EMA cross.
Price above yellow line and look for upper gap fills.
Gaps to fill up to $17
Stop $13
Target $16

Money Patterns member alerts for this trade had lowest entry price of $12.08

Opinion – SPXS has very few unfilled gaps previously. Market overextended. This has good potential to fill gaps in the next few weeks.
Coronavirus fears and reality will sink in. First time in 50 years Americans are quarantined WITHOUT CHOICE when entering the country.

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