From a few weeks ago - We have lower low in place. First time since 2010.
Comments
profitmaker999
⋅
Totally agree. Even though I think the market will have a 20% adjustment totally, the trend is still up until proven wrong.
claydoctor
⋅
Oil seems to either be the driver or the indicator to watch as to where SPY bottoms, if it is does.
KLang
⋅
I don't see it But, it is an important part of the S&P.
Syncubate
⋅
Great observation, klang! Do you see that $195/$196 SPY uptrend line being retested? I'd say the bulls have to push above $190 asap to pick up steam for any upside push, even if its short-term in nature.
KLang
⋅
The only pattern I see is an IHS on the 60min chart - even if it confirms, I don't think it will fulfill. My feeling is, it will be a volatile market. I have no idea if the bottom would be re-tested, but it it were tested successfully, I'd consider that bullish.