Inv. H&S bottom on the 5 min. is breaking out. Going to be a tough day for shorts.
SPY
Started by
CLK
, Mar 22 2017 10:17 AM
6 replies to this topic
#2
CLK
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Posted 22 March 2017 - 10:22 AM
It was a nice setup on the futures 30 min. for a another big sell down, done. Not going to happen, nothing but a big mess today.
#3
CLK
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Posted 22 March 2017 - 11:17 AM
Another Inv. H&S setting up on the 15 min. at breakeven around 12:45pm targeting 235.40.
#4
qqqqtrdr
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Posted 22 March 2017 - 11:45 AM
Maybe.... We gotta see.... For the medium term, it looks like they are keeping the market in check.... I think there is some propping up of the market for now. I do see the inverse head and shoulders. Even if it comes true and hit the target we will likely sell off into close....
#5
CLK
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Posted 22 March 2017 - 01:50 PM
I had hopes they could run it back up some, but every attempt just gets sold.
#6
CLK
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Posted 23 March 2017 - 08:06 AM
If this gets ugly, cash still deserves a test of the globex highs sometime today.
#7
CLK
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Posted 23 March 2017 - 12:21 PM
I didn't see that 1pm sell coming, they got me. Looked like a good cup and handle on the 15 min., better on IWM.
IWM still holding up so, will wait and see what happens. Looks like IWM wants to test 138, but SPY is weak badly.
I'm trading IWM, btw.
