Pretty fascinating price action today. Straight out of the gate up to previous resistance then right back down, closing below 8k again on above average volume. Looking at the Qs on the 5-minute; we took right off, price pinged
R1, consolidated into an NR7 before continuing right up to R2 (also prior resistance). Price based around R2 and couldn't entice buyers any further before resetting back to
VWAP. We got about an hour consolidation period where price bounced around vwap and R1, the failure of which erased all of the day's gains, leaving us with a
gravestone type doji on the Q's.
Cup w. handle, or ready to fall apart??
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SPY
bear flag breach
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U.S. Dollar Index keeping the channel trend alive.
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