ANF, (RTB) Rounded Top Breakdown

ANF is an (RTB) Rounded Top Breakdown chart pattern. Price has slid back down below the 50-SMA, and the Red, White and Blue trend chart looks like it’s following price lower. The Dotted Duece and SMA-200 are below $22.65 and $22.45 which might prove as support but that support is 7% and 16% away. The 6/21/18 Shooting Star was a failed high that has a lead price back below the 50-SMA. Follow through below $24.45 could lead to the bank.

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SPY Going Into This Morning 7/2/2018

My Red, White and Blue chart has gone to the dark side, the 3-EMA is trending below the T-Line, and the T-Line is trending below the 34-EMA. Until that trend changes to bullish, the sellers will have an easier time of keeping the Bull down. Friday the price action of the SPY closed below the 50-SMA, and the T-Line has dropped below the 34-EMA. I see a little support around the $267.50 area, but ultimately it’s up to the price. With the 4^th being this Wednesday I doubt there will be too much going on in the market other than chopping around like a fish out of water. Use your best judgment; you know my feeling about this kind of market.

VXX – The VXX chart still looks bullish which translates to fear, which translates to sellers outnumbering buyers.

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