Technically we've completed the wedge pattern on the daily at key resistance. If we are to head higher extended the flag pattern $6,000 areas could be the next stop!
SPY Looks like yesterday's seller channel. Green support has been broken followed by sellers driving down from lower highs. Volume diminishing going into Sour Power hour..... Watching this last supporting trend line, if it fails then maybe new LOD. Breaking of resistant TL that has held into the afternoon session. Could see HOD. SPXESSPXL
XAUUSD Seems that sellers are still in control on this channel as US10YR keeps heading up. GOLD Hasn't given up we are still in major buyers channel but just part of the back and forth. We might have a short term top in ESSPY
SPY Long channels an d break downs of support. GAP looks good as we are off the lows of the day. LOD So quick runs to resistance and then reversals to support and head fakes. Careful on break out trades, this is where you become the liquidity for the next move. Yesterday we didn't fill the gap either. Buyers are still in control, Sellers could take the day. What if this leaves us in a doji on the daily. ESSPXSPXL
SPY we have seen this pattern before, IHS entry headed back to highs, some resistance in the way. Soon to run into resistance and will probably chop around before hitting the HOD. Bull flags on the way up. Watch out for volume as we could get quick reversals. SPXES
SPY The most important lesson you will learn about calls on an open forum. Never listen to anyone. Do your own work. Qualify the information you see. The only one who gives a flying F about your account is you. If you don't understand it, do not risk your money on it. SPXES
SPY These grinding trends are to fake out indicators. Lunch time profit taking on setting channels. Don't get caught in the grind, wait for a clear entry with manageable risk. SPXES