Raising wedge pattern could be easily spotted the SPY weekly chart. RSI reading indicates we are in the overbought area. Stochastics are not yet turning, but with the early Monday morning sell off, I would expect a down day in the markets come Tuesday. Maybe this is the correction everyone has been waiting for. Perhaps an 8%, to test the 50dma? I would assume dips would be bought, given POMO. I would expect volatility to resume and perhaps it is safer just to stay on the sidelines until a clearer direction is chosen.
Slight bearish divergence on the IWM, weekly chart.
Still valid from last week
Failed break out. It is important to watch the volume at the breakout. Chart below is a 5 min chart of CYH, and clearly volume on the breakout was low. I wouldn't rule out a re-test of the break out.
This one worked well if you played it, a retest of the trend line is very healthy and should be bought. Re-Test is on low volume.
Still a valid trade unless it breakdown below $6.63 in my opinion.
Worked well, volume is good.
Another one that worked out well.
Was a tricky one, but looks good for next week.
If MMR can hold either 20 or 50dma this could still be a valid breakout.
MOS, rising wedge pattern worked out, could we test the 50dma? or the dip will be bought? Will keep watching. I'm expecting a test of 50dma.
A test of 50dma, very healthy in my opinion because it was bought. Still a valid play in my book.
Would like to see more volume, if you get more volume behind this move a gap fill is imminent.
In Play! Watch this one!
Needs volume.
TGB - fake out? Volume on the sell off wasn't as big, still valid in my books, will watch next week.
Worked well, congrats. Be sure to move your stops if you played it.
mmmm... boring....
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