Ascending triangle or possible double top?
Dow Jones closed Tuesday with a shooting star candlestick and followed it up today with a bearish engulfing. Dow Jones is now flirting with a double top
Nasdaq composite (IXIC) is forming a pennant (1hr)
Apple, Amzn, Nvidia and Tesla are showing strength which should boost QQQ
With knowing all of this , I look at the Spy and see 2 possible direction in the immediate future and that's
1. 🐻Double top if break trendline and fall beneath 467
2.🐂 Ascending triangle with a breakout above ATH.
Watch for the price action at the trendline tomorrow
Dow Jones closed Tuesday with a shooting star candlestick and followed it up today with a bearish engulfing. Dow Jones is now flirting with a double top
Nasdaq composite (IXIC) is forming a pennant (1hr)
Apple, Amzn, Nvidia and Tesla are showing strength which should boost QQQ
With knowing all of this , I look at the Spy and see 2 possible direction in the immediate future and that's
1. 🐻Double top if break trendline and fall beneath 467
2.🐂 Ascending triangle with a breakout above ATH.
Watch for the price action at the trendline tomorrow
