THS Printed A Weekly Cradle Pattern

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THS Printed A Weekly Cradle Pattern

THS printed a weekly cradle pattern and closed over the daily 50-SMA making THS an (RBB) Rounded Bottom Breakout. Friday THS ran to the Dotted Duce indicator and rested. I would expect more rest then a trade to the $50.15 area followed by a challenge of the 200-SMA. With a test and success of the 200-SMA, $62.70 would be the next trade.

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SPY • Bullish Engulf

Well, it looks like the Bulls were feeling pretty good about themselves, big Bullish Engulf after a Hammer and off the 200-SMA. I hope they know the work is not over yet. The 50-SMA and $271.30 will require more bulls and more strength. If the buyers can capture $272.30 successfully, they would be above the 23.6 Fib line, a good place to be if you a bull. QQQ’s, DIA’s and IWM all acted very well Friday and the QQQ’s and IWM both closed over the 50-SMA

The VXX chark lost the 50-SMA and looks to be testing the 200-SMA once again.

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