If TWTR does not crack resistance this morning and rips to 42. You could see a possible pullback to 40ish to set up for an inverted H&S. I don't really trade with this pattern often so this could be irrelevant. However, LONG TWTR
GIld is currently testing the bottom of this trading range. 72.30 is of major support. Bounce here and we see 74-75. Break here and we could see 68ish. SPY has been bringing this thing to its knees. If spy holds 300 I'm confident in a bounce at this level
Moving averages are a powerful tool to help you stay patient and calm when trading the market. I created RAT Momentum Squeeze to help graphically depict the market momentum by using the moving day averages. This is my first indicator and it's not fully complete, just a published beta. I personally use RSI and STOCH RSI combined with this gives you great swing...
I'm trying to understand the Waves O' Elliot. Could this be a valid chart for SPY? I have a good understanding of Fibs, support and resistance, but I'm not really sure the proper placement of the waves beside the 5 up 3 down concept. Any feedback would be awesome. If it's terrible please let me know.
Thanks. Stay Green!
GOLD has been hyped up and it's rumored to blast off to tendy Land with growing concerns over hyperinflation and the weakening of the dollar. SPY is at a key level where the bears are expecting another dip while the bulls are looking for all-time highs. GLD and SPY have been converging and now is a key level for them to start diverging. I think once we see...