1. Over 100% move on volume from a big base(48weeks).
2. 5'th Week tightening consolidation on decreasing volume.
3. 8&21EMA caught up the price and holds it while the market(QQQ &SPY) is pulling back.
1. Nice rally on EPS report;
2. RS-line showed strength, meaning that the stock is Relative Strong and started to move before market bottomed.
3. Nice tight bull-flag. Still within bigger base but first constructive price action since basing started a year ago.
Like SPY, QQQ showed supportive price action around 8EMA on Friday's session but looking at chart I see a little different picture. QQQ is relative weak compared to SPY and that is not a sign of Market Power, because usually Nasdaq is leading the bullish trend. The rally ended @ 370$ pivot from 2'nd February and the price tried to retake his 200MA closing the...
SPY found some supply here, after a such strong rally, breaking downtrend and right above all moving averages, . Market needs to digest this move however this pullback looks constructive with Friday session supportive price action around 8EMA. Maybe price will need more time to consolidate here above 448$ area near 200MA zone before continuation or will pump...