play4trade
Short

$SPY look below... at what was important on the way up

AMEX:SPY   SPDR S&P 500 ETF
142 0 3
Most people depend on indicators to help them determine whether good time to get in, but the fact is none of that matters. People must rely on price action. YES, the candlesticks themselves. They alone are your indicators. You can predict price action, targets etc... Here in $SPY we see that todays big bounce was nothing more than testing SL on smaller TF, also we saw bullish progression which allowed for this pop to happen. Bigger picture is we are still in distribution. we can see the rounding top very well on lower time frames. Looking for swing short to 196.xx and maybe even head lower near leg start of 193.xx All healthy for nice moves up in near future...
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out