The SPY is approaching a major resistance zone which makes me hesitate going long as there may be some sideways trading for a while until the markets builds some type of momentum. Would recommend going short here however the SPY still needs to break its minor upward trendline and show some weakness through declining volume. Will consider taking this trade once the...
Bank of America is breaking resistance from an ascending triangle. Volume is also increasing which is a good sign.
Note that June historically has been a very foggy month for the market as most market makers go on a vacation all month and have there computers set on autopilot, making sure stocks stay in a range.
This means that false breakouts occur often.
RLGY broke out of an ascending triangle yesterday, but failed to stay above support. At this level, just above the rising trend line, along with forming a hammer doji candlestick pattern.
Stop below trendline @ 46.99)