SPY wedge may be complete

22 сент. 2022 г.

Spike through lower part of wedge, if they reverse the daily candle today it would look promising that the wedge is complete. We're also close to strong horizontal support on SPY and QQQ so it's an important area. They may take it down a bit lower first. Good luck

22 сент. 2022 г.

Заметка

bottom of wedge has been acting as resistance. It looks like a cup and handle bottom, but nothing is bullish near term unless they can get over 376 convincingly.

22 сент. 2022 г.

Заметка

looking better now, 375 needs to hold as support for the reversal to continue tomorrow.

22 сент. 2022 г.

Заметка

held 375 support so far, bulls want to keep pushing into the close to create a daily hammer candle. Under 374 is not good for bulls and we likely go to 370 next.

22 сент. 2022 г.

Заметка

poor close, likely down tomorrow

22 сент. 2022 г.

Заметка

tomorrow could rally, but if so, it would likely be a B wave with another move down after. We'll see. have a good evening