3:51pm
OK, a last post for the day. the DJI is more obvious a H&S pattern than SPY. things will not be clear until next week.
Have a nice weekend.
3:46pm
another retest. the more a line is tested, the more convincing it’s a trendline.
3:40pm
The market further drops as i mentioned minutes ago. If we zoom out, it’s clear that the move in the past two-days are just like island, isn’t it?
3:27pm
The wedge has been broken already and not it’s a retest. We can see more selloffs in the last half hr.
3:21pm
The selloff has no volume, which is good sign at the beginning of the sell.
3:10pm
cover GS @ 117.4, $1.1 Gain in the pocket.
2:54pm
fail to make higher high and it looks like a wedge now
2:45pm
short GS @ 118.3; stop at HOD.
2:38pm
Now the questions remain for today is whether we can make a higher high. If we close now, it will be inside day, which means it’s a indecisive pattern and market can move either way huge the next day.
2:17pm
OK, I will take profits for the long positions initiated this week. Won’t keep them over the weekend. This rally can edge higher, but I won’t take more risk on it.
1:58pm
As I said, financials are continuing lead the market higher. GS just break out, XLF follows up well.
1:48pm
Market has been trading in a small range for quite some. Financials are still strong and standing well above the 50ema. watch closely on GS
12:50pm
wow, a huge red candle. I was about to say that a long time hanging on the resistance will lead to a fall, but i was caught on a phone. Now It fails~ 50ema is still a support. Ben’s talk is over? it’s always sell on Ben’s talk these days :)
12:30pm
the market is hanging on the neckline and i believe it will break it based on the strength we have. 20ema are crossing 50ema on 5m chart. bears be careful.
12:23pm
GS break out from the wedge and lead the financials higher.
12:10pm
Let’s zoom out and take a look at the larger picture. the SPY just retest the broken trendline yesterday. there could be a final push to the update before rolling down under 800. Further rally need some base formation
12:00pm
Market just break through the 50ema and retesting the neckline. bulls have to take it out to demonstrate the strength.
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