bluespark96

bluespark96 Updated 

Market has made a higher low on the 4 hr (and daily for matter) and trading strongly above the 50 day moving average. I feel this type of action usually this goes back to test the recent highs. Feels like we might get a brief pullback to test that breakout above the 50 dma first though. Still feel we will test the ATH's from late 2021 before we get another...

bluespark96 Updated 

Looking at a reverse Head and Shoulders pattern on DIA. If it breaks out, a measured 100% move takes it right to the all time highs from 2021! This in my mind is likely and is where we may finally go down again. Thoughts appreciated!

bluespark96 Updated 

Several favorable factors indicate trend has changed. We had bounce off the 50 MA (Monthly). We set a higher low pivot. We had a breakout over a trendline from a cup and handle pattern. A BAM signal triggered on Jan 12th (bullish signal with excellent record). What more do you want? I am hoping for a pullback to the .38 Fibonacci line...but may need to...

bluespark96

The ole' three little Native Americans pivots right into a 50% retracement and trendline. Looks like a good place for a short term bounce. Targets could be some of those gap fills above.

bluespark96 Updated 

QQQ is stalling at intersection of prior resistance and bottom of bear channel. This cold be a flag pattern about to break to the upside after good momentum the last few weeks.

bluespark96

DIA is in a coil (triangle pattern) after a big push up. After such great momentum upward, this looks like a good pennant pattern for a break up to eventually test the January 2022 highs. If you check the SPY it might also be in a flag pattern for a potential break up as well. Or it might be turning over. At any rate, I plan to wait for a break and plant stops...

bluespark96

A nice place to buy SPY may be at the triple confluence of the .236 retracement, upward trendline and previous pivot high. A pause or bounce at that level might make a good entry for another leg up.