The indexes all closed up over 2.25%, considering the drubbing it's endured for the past 2 weeks or so. Since Feb. 13th the Dow lost over 14%, the S&P over 16% and the Nasdaq 14%. So a two-and-quarter gain isn't all too phenomenal, so it all depends on the follow-through.
Today's 5-min SPY tape showed us a V-bottom early on right around our
R1 pivot area. Through the afternoon
vwap held support and the highs broke strongly, while it seems the late day sell-off was a result of hesitancy to hold overnight. Nonetheless, the close held up as a higher swing high.
Our 20- & 50-EMA crossed over in a bullish way; follow-through or failure tomorrow?
Keeping with the double-bottom ("W") set-up, here's one from ISRG today:
Today's 5-min SPY tape showed us a V-bottom early on right around our R1 pivot area. Through the afternoon vwap held support and the highs broke strongly, while it seems the late day sell-off was a result of hesitancy to hold overnight. Nonetheless, the close held up as a higher swing high.
Our 20- & 50-EMA crossed over in a bullish way; follow-through or failure tomorrow?
Keeping with the double-bottom ("W") set-up, here's one from ISRG today:
No comments:
Post a Comment