SPY (d) - Running out of steam

245 0 0

I'm sure everybody's seen similar chart on your favorite blog, but here are my 2cents.

The market seems to have two options here
1. Confirm the double top and continue down the target, breaking MA(50) soon
2. Bounce off support (channel and earlier support line) and make the right shoulder for the HS then go lower from there.

QEternity is promised, the best employment numbers are out (you can believe them if you wish) and we've given up all gains. So, What stands between these two scenarios? Some seriously great news out of EU, sorry but i don't see it at the time of this writing.

The setup seems very similar to RSI pattern I pointed to in one of my published chart seems more pronounced as of current setup. I'm thinking we might see some fireworks soon.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out