quantguy
Long

S&P to Retrace

AMEX:SPY   SPDR S&P 500
Following the strong bearish momentum from yesterday's ECB QE report, non farm payrolls came out positive, clearing way for the S&P             to return to its former bullish rally. Even further, oil             is expected to drop below $40 a barrel (finally), which is icing on the cake at this point.

The technicals are behind us. Note that the OBV has increased sharply from yesterday, indicating increased buying pressure. At the time of this writing the MACD is headed for a crossover, and the RSI has increased steeply. There is also a huge gap between the ichimoku cloud of resistance and our current price which usually suggests a propensity to close this gap.

Note the large vacuum area between the current price and 208.35, which makes it ripe for a profit target. Expect some retracement after such a strong bull move from open.
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
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 Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out