Bollinger and Wilder Charts Suggesting Bottom

Skipper86 Updated   
The Bollinger chart is on the left and the Wilder chart is on the right. The Bollinger chart shows bullish divergence between price and %B which is confirmed by AD%. See the yellow bars. AD% is a normalized accumulation/distribution indicator. Price has also created a double bottom and closed above the 20-day moving average, triggering a long entry.

The Wilder chart shows bullish RSI divergence with a failure swing (higher low and higher high), as indicated by the yellow bars. ADX is threatening a crossover but has yet to achieve one. The parabolic SAR has triggered a long entry. The two lower indicators are not Wilder indicators, but both are showing bullish divergence.

Note: a 50% retrace was accomplished last week.

I went long two micros after the bell with a stop below the day’s low. I’ll consider closing the trade in part or in full near the 9-week moving average which is near the high from a couple weeks ago at 378.50.

SPY closed at 371.13 today and is currently up after hours as of this writing at 8:27pm EST.
Trade closed: stop reached


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