Michaeljrplanchart

Michaeljrplanchart

What a bounce from the $SPY this week. The main reason I love the markets is how uncertain it is. We are testing a key level of resistance which is 289.00. I don't choose bear or bull I see that price domintates everything, so if SPY is uanble to break that level then we can fade back to the 200 or we will just continue the momentum up, maybe we will reach 300 by...

Michaeljrplanchart

Price closed below the 200 sma. 274.75 is going to a key level. Either we bounce from it and test the mighty 200 and then we could see a rejection, but all depends on big money. If we break that level of support then it would be short heaven. maybe this summer is going to be active after all.

Michaeljrplanchart

Quite oversold. Waiting to see if it will consolidate for a few days around 51.00. MM's could be building their long positions on this area. Will be watching closely for the next few days.

Michaeljrplanchart Updated 

$TWTR I saw twitter setting up for the 60 minute opening range breakout. I entered the position with a 100 shares at 32.63. I had my stop set up under the 10 ema which it was around 32.15. Once I executed, I let it work all day until 2:00 oclock when I was watching the price action and did not like what I was seeing, also the goverment was releasing the Fed Rates...