davidismyname

davidismyname P

February - March 2021 may be a repeat pattern of 2020.

davidismyname P

It has held up well this week, considering the indexes making new highs. Let's see if there's a re-test and continuation of this rise!

davidismyname P

The S&P is breaking out of a massive rising wedge (magenta lines) with the upper trend line of highs established in October 2018. Can it hold? For the sake of sanity, I think it should correct below the upper trend line. There's a big 200-day moving average and lots of November gaps to fill down below. It's like a kid with lots of energy who wants to go...

davidismyname P

It started taking off, but then pulled back a bit. Can it hold above the channel line into closing?

davidismyname P

Thanks to @Dr_Roboto for identifying some of the lines and trends reflected on this chart. The S&P 500 is within 12 hours of hitting a rock (a very wide red-lined down-channel between Aug. 26 and Nov. 27) and a hard place (a light-blue-lined uptrend since Oct. 30). The price has to break through one or the other, and as I type it's leaning toward the light blue...

davidismyname P

Based on if/when it breaks to the upside, the distance from the bottom of the cup to the breakout will determine how high it rises above the breakout.

davidismyname P

We will soon see a break above or below, but MACD has crossed down and volume is low.