SPY forming a potential double bottom on 2022-05-19 at 389 with targets ema50 cross and 444.44.
- RSI bullish divergence (yellow line)
- DJI index forming potential "abandoned baby doji" (3-day reversal pattern)
- Very bearish mainstream news sentiment, including minus 10-18% predictions by big banks in recent days
Comment:
EMA cross target is hovering around 420 (blaze it).
Comment:
"Successful tape reading is a study of force; it requires ability to judge which side has the greatest pulling power and one must have the courage to go with that side." - Richard Wyckoff
Comment:
ema 50 cross target achieved
