A minor up move in a down channel.
This is a prediction using only 2 circle sizes (these are a simple calculation for radius distances on the angle swing) and the channel with it's approximate 1/4,1/2,3/4, and full channel lines. They aren't set because they are 1/4 value. They merely follow the channels data levels somewhat, without being too skewed to one side.
The circles are just close approximations. I could have fine tuned them more but SPY's specialist is the sloppiest channel maker I've seen yet. He has mini breaks on the channel lines too often. TXN stock is fairly accurate for channel lines.
This is just a short term (safe) projection. It should land somewhere in the projection (colored arc) area. I think close to the right side of the circle. If the level is made early, then I would watch for the reversal to the bottom of the channel.
If the channel bottom is broken...It's definitely down.
This is a prediction using only 2 circle sizes (these are a simple calculation for radius distances on the angle swing) and the channel with it's approximate 1/4,1/2,3/4, and full channel lines. They aren't set because they are 1/4 value. They merely follow the channels data levels somewhat, without being too skewed to one side.
The circles are just close approximations. I could have fine tuned them more but SPY's specialist is the sloppiest channel maker I've seen yet. He has mini breaks on the channel lines too often. TXN stock is fairly accurate for channel lines.
This is just a short term (safe) projection. It should land somewhere in the projection (colored arc) area. I think close to the right side of the circle. If the level is made early, then I would watch for the reversal to the bottom of the channel.
If the channel bottom is broken...It's definitely down.