The SPY closed slightly off its highs yesterday and so far has dipped lower premarket today (2/20/2019). While the bulls have made a fantastic 8 ½ week run the toughest challenge may lie around the $280.00 area. The T-line and the Red/Green line continued to support the candlestick price action and the price action yesterday and this past week still suggests the bulls have the upper hand. On the flip side the $280.00 resistance, price action being overbought, TC2000 T2122 (4wk New High/Low Ratio) once again pegged to the ceiling and being up 8 ½ weeks without a meaningful bullish pull back and test. We remain bullish but back to CAUTIOUSLY bullish. Selling into strength and base hits is a key factor in our success.
👉 8 stocks we are adding to our trade watch list: OSTK, AKS, GG, BABA, HUN, PG, BBT, SC
Two new auto scans have been added to the LTA-Live Trading Alerts Scanner; the Bull -Fig Newton pattern and the Bear- Oreo Pattern. With over 100 built-in scans my favorite bullish scans are the Pop Out of The Box, The RBB, The 3×8 Trap, The Fig Newton. If you need set with the scanner set up or adding scans just let us know. Each day (Market hours) we provide Free Scanner coaching in our trading room #4. Warning the LTA- Live Trading Alert software is a game changer, alerts for candlesticks, candlesticks patterns, western patterns, price action, tends, bullish and bearish.
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