AMEX:SPY   SPDR S&P 500 ETF TRUST
Please hold.

That's what the market was telling us today. Essentially that everyone's sitting on their hands and holding their breath as the top heavy portion and almost half of NDX report earnings today into next week.



So what's happening on this chart? Whole lotta nothin. That's what. Like watching paint dry. We did print this descending triangle that (surprise surprise!) didn't play out. And we got that late day pump as expected in these low volume environments. Normally if you don't break through that trendline by the third touch it's going to head the other way out of the triangle in my experience. And they touched it almost to the penny and reversed. It's pretty admirable honestly.
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Thx I just joined. Plz you mentioned if it touches the trendline and does not breakthrough that it usually reverses, please where are supports? Thanks.
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merkd1904 Shiloh777
@Shiloh777 sending you a private message.
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I signed up but can’t access the articles from yesterday. Can I get your promo code
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merkd1904 VolkerRules
@VolkerRules sent you a PM bud.
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Hold for what? Everything in the market is already discounted. Trying to rationalize fundamentals with DOW theory is just a loser's game.
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merkd1904 rmdavido
@rmdavido for the market to show any type of conviction. If everything’s already discounted how come we’re not seeing stronger buying?
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If you haven't noticed i have moved my daily market analysis to my website where i am doing broad market market analysis on a daily basis as well as live updates throughout the day. Feel free to check it out. We also have a few free articles posted with more to come, and for paid members ($20/month) you will be receiving regular articles, TA on specific names, and educational posts as well.

M1904trading.com
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