Daily Morning Star Gives Clues

On the ENDP daily chart, the Morning Star Signal is giving us a clue the bulls are looking for a higher stock price. The trend on ENDP has been strong, and a T-Line Run most of the time. The recent gap followed by three lower lows and yesterdays bullish close has put together the Morning Star Star signal. The weekly chart ENDP is a perfect (RBB) Rounded Bottom Breakout that has reached the Dotted Duece. For more details on the ENDP trade, please click the following link. Get the complete details including Fibonacci details TV2020 trade plan right here

Past performance is not indicative of future returns

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SPY • Choppy Slow Grind

The buyers were able to close the SPY back above the T-Line yesterday, but the $284.25 area is proving a little hard for the buyers to get through. On the daily chart, the Island reversal pattern a few days ago dug it heals in. Now a Head and Shoulders pattern is starting to become possible.

On the weekly chart, the bullish Engulf and the bullish T-Line run is still intact working with signs of reaching out higher. Today’s pre-market futures are a bit weak but still above this weeks low. (7:30 AM EST. when I wrote this blog)

Conclusion

The market is still choppy, but in a slow grind climbing the wall of worry. Note a choppy market is hard to trade for most retail traders. The last few days we have seen a mix are of fantastic bullish and short trade setups. Banks profits when you have them, keep greed at bay. Don’t allow a losing trade to get away from you, stops save.

****VXX – The VXX chart is trying to get through the 50-SMA if it does we could see a change in the downtrend line.

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Past performance is not indicative of future returns

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