Traders,
With the dollar and VIX down, there are no surprises with our SPY chart showing a nice big green candle on the daily. The question remains though, will we stay in my channel and above the 200-day sma or will we continue to proceed down to the H&S target of 410? My best guess is that we'll remain in our channel. As postulated previously, the 200-day SMA along with the bottom of my channel may be all the support that is needed to guide us onward and upward. This along with more than 11 straight weeks of DXY strength (time for a break) means that the beginning of Uptober could start today. And look at that RSI helping us out as well! Wave #5 is still well intact.
Best,
Stew
With the dollar and VIX down, there are no surprises with our SPY chart showing a nice big green candle on the daily. The question remains though, will we stay in my channel and above the 200-day sma or will we continue to proceed down to the H&S target of 410? My best guess is that we'll remain in our channel. As postulated previously, the 200-day SMA along with the bottom of my channel may be all the support that is needed to guide us onward and upward. This along with more than 11 straight weeks of DXY strength (time for a break) means that the beginning of Uptober could start today. And look at that RSI helping us out as well! Wave #5 is still well intact.
Best,
Stew
Stewdamus Trades -
Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
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stewdam.us
Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
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stewdam.us
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Stewdamus Trades -
Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
Never miss a prophecy. Sign up for my free newsletter at:
stewdam.us
Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
Never miss a prophecy. Sign up for my free newsletter at:
stewdam.us
Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.