Here's a look at the 30-min SPY. The 3d criteria setting up the long and the 2b criteria setting up at prior highs (1-cent above previous, January, highs).
Nothing overly bearish at this point, especially considering the recent run up. The hourly turning negative can preclude some faster time frame short setups, however, it would be preferable to wait for the fast line to tick higher then continue lower (XYZ wave) for an entry on that (hourly) time frame.
As an ammendment to the above 30min chart:
This still has potential to break out from the $184.70 base. If that's the case, the current 30min 2c criteria would be actionable with a faster time frame (10-min below, right) going from 3d criteria to 3a (or 1a).
{updated}
Support gave way, turning the faster time frame 3d criteria into a 4c continuation and turning the higher time frame (30-min) 3/10macd fast line back down lower after a tick up.
No comments:
Post a Comment