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hungry_hippo

SPY Doji Reversal?

SPDR S&P 500 ETF TRUST (AMEX:SPY)  
hungry_hippo Updated   
AMEX:SPY   SPDR S&P 500 ETF TRUST
Chart Patterns Wave Analysis Trend Analysis SPDR S&P 500 ETF (SPY) Doji
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chartpattern waveanalysis trendanalysis spy doji
SPY threw a doji on what appears to be an exhaustion gap. Is this a reversal or a head fake? We'll find out tomorrow.

Note that we're right on the wedge line so if it breaks down, it's in trouble....
Comment:
Futures are down but AMZN and NFLX are not. Looks like they're setting up for a NFLX earnings rally for tomorrow, watch out for that.

If the market drops, I'm expecting a 3 to 4 day drop like Feb/Apr of last year. I'm geeting the feeling it's going to reverse course. Futures already have an upside down head & shoulders, and NFLX and AMZN are probably going to lead the market up. I'm in wait and see mode.
Comment:
When the market does a melt up like last January the market goes sideways when it should be going down. Looks like a sideways day today. Might buy some QQQ calls at the end of the day for the NFLX rally.

Watch, they'll rally retail on NFLX earnings, doesn't matter that the sectors are unrelated.
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