A Bullish Morning Star On Support

A Bullish Morning Star on support should catch a few eyes. FBP was in a nice bullish trend from January to about June, June to now FBP has consolidated with a slight price dip and a rise creating cup like J-Hook pattern. You can see it on a 3-day chart. About nine days ago price challenged the June high and seemed to be winning; the last three bars have drawn a Bullish Morning Star pattern on a support, the T-Line, and the V-Stop.

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SPY • Support Line Being Tested

It looks like the price will test one of our support lines we had drawn today $278.90. Our next horizontal support line is about $275.75, between the lines we have an ascending support line for the lows. If you take a look at the last five daily candles on the SPY, you can see the sellers have a better plan than the buyers do. Another chart I look at is; VT, and we were doing so well above $75.15, below $7515 is not too good for the bulls. Be careful the trade war issue will cause a choppy and perhaps a bloody market which causes blood in your account. Know when to step back!

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