PipMiesterStronger
Short

SPY & the infamous "h"

AMEX:SPY   SPDR S&P 500 ETF TRUST
Beware of the 'h" patterns in downtrends.

Entry is at break of the bottom of the 'h' horizontal support.

This may break down, but then consolidate more sideways, maybe even attempt more bounce around action, for a prolonged consolidation here at the top. Of course, it could waterfall sell off... We don't know.

GL HF GG



* with only a half hour left of trading this could get propped up and not break today, yet the horizontal trade entry is still valid.
Mar 06
Comment: 277 is the horizontal support here.

I will be watching es! tonight. This top could consolidate for a long time, so be careful about getting too short term on your contracts.
Mar 07
Comment:
Bear flags usually break down.
Mar 07
Comment:
Yet again another 'h'
Mar 07
Comment: Be careful of the ascending wedge - A break up out of it could provide temporary good shorting ops.
Mar 07
Comment:
Mar 08
Comment:
Mar 08
Comment:

Looks like a confluence of support at 271.50

We could go up from here, depending if 272.50 holds. (very small TF, horizontal)

Most all Stochastics are down, oversold.

3x measured moves taking us to 271.5

One large trendline, and one large horizontal support.
Nice analysis -- thanks!
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PipMiesterStronger Sasquatch_Trader
@Sasquatch_Trader, Glad you enjoyed!
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