ballhawkera8
Long

$SPY A Beautiful Bullish Chart!

AMEX:SPY   SPDR S&P 500
The bottoming hammer candle on Wednesday followed by confirmation with two straight positive days is bullish . I am targeting 198 fairly soon in a swing trade and 204 a bit further out to fill those gaps. MACD , RSI , and STO all looking solid. There has been such certainty recently that a crash was not just imminent, but happening right now! AAII Percent Bullish was 17.9% last Friday, another good contrarian indicator.
The BB are spread out wide. THey should be tightening and in order for that to happen, the price has to move from the lower BB towards the higher BB. So you are right about this bounce.
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