We gaped down this morning right on top of our
Buy Envelope, before turning around and running for a gap fill. I highlighted the SPY divergences from this morning in a previous post. We got a rounded reversal that left us with a cup w. handle pattern.
While we base at these highs, the dips are being bought and looks like we're not done running higher.
Here's another perspective, showing a consolidating range while we build value at these levels.
This fast time frame shows how price sold off in 3-pulses while the reversal also occurred on 3-pushes as well.
I found this chart to be interesting (Daily of the SPY). I took away everything from the 3/10 macd except for the slow line (stability of trend line). What we observe is the decreasing momentum with higher prices. We're currently at a resistance level that could be denied or could run higher. We're very extended from the 20EMA but we're running on elation these days.
While we base at these highs, the dips are being bought and looks like we're not done running higher.
Here's another perspective, showing a consolidating range while we build value at these levels.
This fast time frame shows how price sold off in 3-pulses while the reversal also occurred on 3-pushes as well.
I found this chart to be interesting (Daily of the SPY). I took away everything from the 3/10 macd except for the slow line (stability of trend line). What we observe is the decreasing momentum with higher prices. We're currently at a resistance level that could be denied or could run higher. We're very extended from the 20EMA but we're running on elation these days.
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