Remember this chart? Well now its updated and we are trading above the 50% line of the channel, however we are at a 200 MA on a longer term time frame. This is the first touch of the line and it's funny how we have chopped up here. If we break above this 200MA and close we will be bullish for the market to touch the top of channel which is around 1175-1118. That will coincide with SPY 118. I am pretty sure the move will happen quick though so be on your toes.
No comments:
Post a Comment