hungry_hippo

I SPY another pennant

AMEX:SPY   SPDR S&P 500 ETF TRUST
Chart pattern looks incomplete like it needs a new top. Plus RTY never filled the COVID gap so small caps have to go up and double top .

I think we get more stimulus talk or something next week, but chart pattern and futures indicators are bearish for Monday, so I drew up this pennant . More whipsaw next week then a pump is my guess.
Comment: Appears major stocks are setting up for earnings, see my AMZN plot. Same exact price where it opened last quarter after earnings.

I don't expect the market to do much for the next couple of weeks....

Comments

agreed, stimulus will make it shoot up, we are about to hit a wave 3 up on monday after today's down too...i think that represents more stimulus talk as you said. amazing how "news" follows the cycles of waves almost to the T
+1 Reply
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