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Consolidation with Cup and Handle Patterns


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#11 K Wave

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Posted 19 June 2020 - 08:44 AM

Trannies first 15 less than impressive.

 

Last bulls want to see here would be an hourly long tailed bearish engulfing at the back test of the hourly 900....

 

let's see how the next 45 play out....


Edited by K Wave, 19 June 2020 - 08:44 AM.

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#12 K Wave

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Posted 19 June 2020 - 08:46 AM

Trannies just back test 1 min 900...if they hold that, then bull may start to run free....


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#13 K Wave

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Posted 19 June 2020 - 08:56 AM

Trannies still no juice....


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#14 K Wave

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Posted 19 June 2020 - 09:03 AM

Now ugly 30 min candle on Trannies...if next 30 is not pretty much straight up, then could be issues with Trannies turning corner to bull mode...


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#15 K Wave

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Posted 19 June 2020 - 09:04 AM

RUT still holding pretty well just below the breakout point...


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#16 redfoliage2

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Posted 19 June 2020 - 09:06 AM

Some took profit upon the gap-up open.  But I expect dips will get bought thru the day and the market ends the day at high with VIX below 31.................


Edited by redfoliage2, 19 June 2020 - 09:08 AM.


#17 K Wave

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Posted 19 June 2020 - 09:08 AM

This has the potential to be an EXTREMELY key day going forward, as if bulls pull it off here, could see hourly breakouts in all the laggards in a single day.

 

NYA, Dow, Tran, RUT all are at the key pivot at the same moment in time...

 

Bulls do not want to lose this battle.


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#18 K Wave

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Posted 19 June 2020 - 09:11 AM

Wow Trannies about to go red...

 

Stick save needed very soon....


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#19 K Wave

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Posted 19 June 2020 - 09:12 AM

and red they go


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#20 K Wave

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Posted 19 June 2020 - 09:12 AM

below 9180 and likely to start getting ugly there...


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