Spy sitting on the quintuple top. Neutral short term until it can break or confirmation on the sell side. $SPX $SPY $VIX
Quadruple top? Or breakout? I am neutral on this at the moment and until I see a red day with significant volume to support it and confirmation, shorting this would be a bad idea.
Trend is up trendline is up but the triple top approaching. Still bullish
The wedge, where will it go? Nuetral on this for at least a week.
All technicals remain string however, confirmation on a shooting star would be below the gap up on 2/12 which just happens to be the 200 ma at 271.97.
Looking for continued upside here not only on the oversold conditions but the support that has been building into this.
This looks like its going to collapse to under 13 tomorrow. SPY chart to follow.
No reason to expect this is heading down on the monthly...barring a catastrophe.
And I sure called that candlestick breakdown as well.
Still below the rising wedge and rangebound as it bounces below the P point. Think this will be a boring flat day Friday. I am short term bearish due to the break below rising wedge will be buying the dips for Nov and Dec #Santa Rally.
Bounced off S1 today and should remain rangebound the rest of the week.
VIX rangebound which bodes well for bulls until significant up trend occurs which I dont think will happen this year I would continue to BTFD in SPY
Daily look at SPY breaking below its rising wedge. Will probably stay in the 2910-2920 area for EOQ but october willl probably see lower and good opp to BTD for end of year rally IMO.