Downtrend, Double Bottom, Bull Kicker
Downtrend, double bottom, and a Bull Kicker show up on a chart what do you get? Three great conditions! After the Bull Kicker DISH popped over the RBB Line and had held steady for the past five weeks. Current price action is challenging the $36.90 level with a Bullish “W” pattern breakout and a Doji Continuation pattern, (All within an “RBB” Rounded Bottom Breakout Strategy). The weekly chart also has a Candlesticks Morning Star Signal and price riding the T-Line.
I am bullish on DISH over $36.80 with a protective stop about $35.42. Don’t forget to subscribe to my YouTube Channel
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SPY
Friday was pretty slow, not much to report. Buyers are keeping the price above the T-Line, and the T-Line closed higher than it did a week ago. The August 29 high is still a problem for the current price. Our 17-day trend line is still pointed in a bullish direction. FDX and ORCL report today, neither one is likely to have a huge impact on the market.
****VXX – Back below the T-Line suggest no fear
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