Bulls drove the price almost to the close that we had Jun 10th. A few pennies shy of 319. Graveyard crew is putting in some higher number as well. The last time we had these numbers was June 8th, a dump followed afterwards. Will the bulls let the bears tackle them down again?
What is the market saying?
- Yesterday was a breakout of a 6 day . Today will be confirmation day if the bulls can close above 319. Luckily theres a 3 point daily , top and bottom now (check chart). Above 323.2, there really aren't a lot of resistance zones. Going into no mans land may give clues to possible resistance spot though.
1) Weekly Time Frame
- This isn't a legitimate (missing 3 points), but to illustrate a pattern, theres an expanding trend beginning to develop on the weekly's.
319.34 & 317.59 as weekly lower highs
304.32,304.21, & 300.5 as weekly lower lows
2) Daily Time Frame
- breakout yesterday. Pattern started 2 july. Pending confirmation with a higher high.
-Bulls have closed above the daily 20SMA since 2 July.
4) Daily Indicator Standings
MACD: Above zero // buy
BB: Sideways above center line, nearing upper deviation
RSI: Sideways since 6 july // 55.78 -> 59.41
KO: Signal line above 0 // Slow line uptrending up to zero line
OBV: Sideways since 6 july // Lower high set yesterday
- gap to the north side
325.85 - 332.58
- 2 gaps on the south side
3) VIX Thoughts
- VIX hasnt really done anything. Downtrended yesterday, no overnight movement. Suspicious.
If this helps you like and follow the chart all day. Ill be giving updates as they show up! Getting feedback helps a lot. Thanks for taking the time to read. All of this information is my interpretation and shouldn't be taken as trading advice. Good luck out there traders!
whats the bulls plan?
321.3 ish is the number their trying to hold right now.
Could have a pull back down the bullflag created yesterday. where abouts? 319ish is 50% of the flag give or take.
bull flag high of 3232
dropping to 3200 wouldnt be a big deal to the flag. getting under 3180 would cause a bigger problem for the bulls though.
318.9ish was yesterdays close. Should be buyer at these two numbers.
but first, the bulls need to recap 320.1 to get higher.
If they hover here for a little while, its expected theyll try to pop up and recap 322.1ish.
upward from here is 322 & 322.5
lets see if bulls get there.
Doubt seeing that today though. XLF is in bull flag formation and holding up well .
enjoy your dailys - thank you
checking out PCSPX and this would be a prime time day to prep for a big move soon.