blackrose4804

blackrose4804 Updated 

SPY intraday penetrated 200d EMA on 5/3, but the bull pulled it up before the market close. 200d EMA has been tested for 3 times in 2018 and proven a strong support. If the 200 EMA breaks out, the next support is 258. On the other hand, the unconfirmed resistance (blue line) is about to cross with 50d EMA. It is likely the price will go slightly above 50d EMA and...

blackrose4804

Weekly: Look back to mid 2015, a cup and handle shape has formed. Last four weeks bars completed a bullish flag, and breakout happened this week. Use the flagpole as a measurment, add that on the breakout point and price target is between 38-40.