Glad to be back and recording for YOU. SPY is still on shaky legs and the momentum to the downside is still strong. Here's what you should know before market open!
How did you decide the market was going to break the lower BB band on the weekly this cycle? You have been trading off this bounce from that line, now you are trading for a move to the 150 MA on the daily? What signs showed you there was not going to be a bounce off the lower BB weekly?
TTMTrades
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@autopilot6236, Typically when the market is bullish, I will monitor the intraday chart weather its a 2 hour or 5 min. As we pull into that top 1 STD Deviation on the weekly, I am looking to see if intraday charts are strengthening around that support level. Going into todays trading session, if you go back and look at the 2 hour chart intraday, it shows there isnt a lot of buying power or pressure to turn the market over, which led to me speculating we would break through. Now we wait til next week to see how the middle bb of the weekly holds, but i expect a bounce.
beastiezep
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whats the name of the indicator you keep referencing? PMO?