SORL – Popped And Consolidating
SORL (Sorl Auto Parts), The SORL Chart, popped on October 4th and followed through with bullish consolation. The Pop and consolidate left behind a well constructed double bottom and bull “W pattern breakout.
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► Eyes On The Market (SPY)
The SPY remained bullish as does the DIA’s and the QQQs. IWM is testing the lower T-Line band forcing price to look for support, $147.60 might be that support.
The SPY has held the upper T-Line band run for the past 14 days, the candles (price action) continue to confirm bullishness. A close below $254.65 would likely put the Lower band in test mode.
The 4wk New High/Low Ratio T2122 chart has dropped back below the 34-EMA and below the 34-EMA tops. I am also seeing an Unconfirmed Bearish “H” pattern developing; we will keep you updated.
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