The SPY backed off the 38.2% retracement level of the range for the year and has carved out a higher low above the rising 5 day moving average, but the upside action remains difficult to trust. Tomorrow is looking like a pivotal day, if the higher low (~109.40) and the rising 5DMA (~109.20) can hold … Read More
The SPY backed off the 38.2% retracement level of the range for the year and has carved out a higher low above the rising 5 day moving average, but the upside action remains difficult to trust. Tomorrow is looking like a pivotal day, if the higher low (~109.40) and the rising 5DMA (~109.20) can hold … Read More
I personally do not place any emphasis on 5448, it will be interesting to see if the market is attracted to that level before this bear market is over. This is not a forecast, just an interesting observation. Thanks to the reader (Dmitry) who sent me THIS ARTICLE which got me to look at the … Read More
The Qs have dropped down to the 2 day VWAP on volume which is significantly less than it rallied on. The market is also just above the 50% retracement of the Low to High from yesterday. This is only a level of POTENTIAL support, not a level to buy. When markets reach a potential level … Read More
This is site has a live Global Vote for US President with some interesting data points. The market rally continues as fresh money chases prices higher, the Qs are coming up to a 38.2% retracement which has the POTENTIAL to become a place where new buyers slow down and profit taking occurs (the process of … Read More
