BATS:SPY   SPDR S&P 500 ETF
138 3 1
Just for giggles - what I'm seeing - consolidations are very hard to read and play
CaperAsh
2 years ago
market far away from VWAP after pretty steady up-day with no deep correction - so not going back to VWAP into close
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CaperAsh
2 years ago
much of your pink consolidation was rather typical lunch-time fluff, just jigging around,then a very shallow pullback after lunch (about 17:30 on yr chart I think), and given it was so shallow a pullback, well the bulls were still in charge and bid it up to new daily high. Then that high was tested (your blue ABC), it exceeded margnially but without follow-through, so with an hour or so left, not being able to go higher, it went back to equilibrium around VWAP (and today's POC using volume analysis) going into the close. So I don't think the lunch-time consolidation is all that significant given a new high was was made soon after lunch.
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KLang PRO CaperAsh
2 years ago
Whatever
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