Fugly
$SPX $SPY WS isn't buying this. they're SELLING it to you...
$SPX $SPY Think WS is buying this...? They're SELLING it to you..
When this goes, it's gonna go. And quick. Rates nowhere to go but up. Fed on the way out. Maybe. The Ultimate Bull Trap..?
Note last time RSI bottomed and broke out.
Not a bullish engulfing. but as close as you're gonna get
Based on past channel breaks, top of next channel is 17-17.50
Each Channel has seen a test of the upper and lower TL's, except this one
I'm seeing this pattern thru a number of equities. Dip in indexes early Dec created cup, tax selling forming the handles
Based on Cup depth, bottom of handle would be in range of 7.85-7.90
I'm seeing this pattern forming in a number of stocks
Very bullish here..
Wait for a test of the lower trendline, take a long play there with a stop below...
Jan call OI very bullish, watch for a test of the lower trendline, long play @ test of with stop in place..
Next triangle forming..
Extrapolate this anyway you want, this will give you an idea of how price has moved to date between these levels. Notice how previous highs became strong support, which is now 11.50 but i'm looking for a 12.20 entry to scale back in
breakout, wait for confirmation
AND the drop off the DCB high bounced off the 50% fib, so be looking for a 12.04 low here, prob lower
