GreenLightinvestor

General Market, as indicted by the SPY, may be consolidating

AMEX:SPY   SPDR S&P500 ETF TRUST S&P 500 ETF USD DIS
50 views
4
50 0
The General Market, as indicted by the SPY , may be consolidating. The Choppiness index level is low, which can indicate the start of a trend. With a new column of "O's", the new primary direction is lower. Time to put the Defensive team on the field!!
Trade active: I view today's SPY 1.22% move higher as noise. The General Market (SPY) will have to trade and close above the 240 level to change my current view from Consolidation to Bullish.
Comment: The Market has tested the SPY 240 level and has not had the energy to break through. We 'll look for continued consolidation until a column of Green X's appear.
Comment: The Market continues to struggle with the SPY 240 level. With low energy as shown in the Choppiness Index coupled with persistent low volatility, we seem to be in another "time correction" as opposed to a "price correction". We 'll look for continued sideways (range-bound) consolidation, and play defense, until a column of Green X's appear.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out