The Bollingerband traditionally has a lookback of 20 periods, and that coincides with a common moving average length of 20 (sometimes 21). SPY price action has gapped up and stopped right at that baseline, or the 20W SMA. This is very much a do or die circumstance for the market. If the baseline asserts itself as resistance we can expect a very painful recession. If somehow the baseline is confirmed as support we have the much promiced V shape recovery
Below the prices action we have the OBV & EMAS. The OBV has been consolidating below the 100W, which isn't a good sign for the bulls, and the 20W is looking like it will cross the 100W bearishly. This is an extra-ordinarily bearish set of circumstances to play out.
Below the prices action we have the OBV & EMAS. The OBV has been consolidating below the 100W, which isn't a good sign for the bulls, and the 20W is looking like it will cross the 100W bearishly. This is an extra-ordinarily bearish set of circumstances to play out.
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~Nathan Explosion
~Nathan Explosion
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