jangseohee

Head completed

AMEX:SPY   SPDR S&P 500
99 0 2
The "rising window" (in blue) was filled in 5min chart hitting 189.92. But it doesnt look fully filled on daily chart .
As can be seen that there is a potential head & shoulder topping pattern as the left shoulder and the head are completed.

Two potential scenario on next trading day.
1. Look up when price go lower as it tends to take out the shorties just one tick below 200ema.
2. There is a weak bullish divergence in histogram & CCI , hence bull might just run over without touching 200ema. On top of that, as the price started to fall from the top of the head, i noticed that the Volume increase until it climax last night.

P.S. A little bit on trading psychology now, the last time SPY             touched 200ema is 14-15 Nov 2012. The smart bulls who are waiting for this touch might initial a long position depend on how bear reaction. The dump bulls who recently bought at the high are also watching the 200ema albeit in opposite way. In case there is a small upside rallly, these dump bulls are willing to sell at smaller losses and with big bulls piling on long orders, the index might just shoot up again which if it's only enough to make a low high than the 18 Sept high, we will have 2nd leg of heavier bears in store perhaps.
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out