NimbusTrader

SPY Daily Chart Analysis

AMEX:SPY   SPDR S&P 500 ETF TRUST
Let us recapped what we have wrote before :-
1. 200MA has tested it strong support.

2. There is a resistance and support within the 50EMA and 200MA, and that caused SPY bouncing zigzag in between.

3. The Ideal momentum is when it creates Higher High + Higher Low Candles consecutively. This bullish momentum will break the 50EMA (resistance) and change it to support.

4. Doji Candle - Indecisive direction. Hopefully it will Bull Bull Bull....

So basically this is what we all would like to see. Let the time tell us! No guessing! No gambling!
Brah.... that was a strong reject on resistance
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NimbusTrader WaveAzzReaderz
@WaveAzzReaderz, Absolutely Yes bro!!

#2 Zigzag formed between 50EMA and 200MA,
and #3 Ideal setup would be as stated
and #4 Hopefully...

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