The chart identifies the levels that will be watched closely as price continues to react at the previously identified levels. VAIL has reached the 1st target, and reacted at the AIS. A nice move down has resulted and what investors/traders will be watching is the reaction if VAIL is retested. It is still a valid trade and until it fails longs will continue to be bought at this level, with the same 1st and 2nd targets identified being the objective.
ST Long is also being bought and has realized a nice profit even though it has not reached the 1st target identified on the chart.
Technically SPY is in a normal price retrace and investors/traders should be basing their decisions on price action. News events should always be monitored but the charts are the only reliable guide. Savvy investors/traders know that fundamental events trigger technical entries and targets. Always. The market is not random regardless of how many times commentators may say it is. It is only random to those who are unaware of how the market truly functions.
As a reminder, each identified level will be entered and reacted to by investors/traders who have as their objectives the targets we identify. The larger the objective, the more who will be trading that entry. Our analysis show clearly who is trading each level.
If any are having difficulty following our published analysis, we suggest that a review of all our published charts will help to clarify matters. If you have specific questions, email us and we will answer them as time permits.
ST Long is also being bought and has realized a nice profit even though it has not reached the 1st target identified on the chart.
Technically SPY is in a normal price retrace and investors/traders should be basing their decisions on price action. News events should always be monitored but the charts are the only reliable guide. Savvy investors/traders know that fundamental events trigger technical entries and targets. Always. The market is not random regardless of how many times commentators may say it is. It is only random to those who are unaware of how the market truly functions.
As a reminder, each identified level will be entered and reacted to by investors/traders who have as their objectives the targets we identify. The larger the objective, the more who will be trading that entry. Our analysis show clearly who is trading each level.
If any are having difficulty following our published analysis, we suggest that a review of all our published charts will help to clarify matters. If you have specific questions, email us and we will answer them as time permits.