Cradle • Pop Out of The Box Patterns ►Free Trading Room today Thursday 7/5/18

Cradle • Pop Out of The Box Patterns

On the 2-day chart, NIHD has produced a Bullish Cradle and Pop Out of The Box Patterns. The daily chart has drawn a breakout with a 2 bar flag with a breakout as well. The Volatility Stop has turned green. These are the kind of conditions we look for before we have a reason to buy. Check out the TV2020 Trade plan for details

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SPY Stoped By The Volatility Stop

On Tuesday the price action was controlled by the sellers, price could not get past the Volatility Stop or the 34-EMA and closed below the 50-SMA. Today’s futures are suggesting the buyers want there ground back and may try to close above the 34-EMA. As I said last week and Monday, and Tuesday until the buyers can get price above $273.65 they have nothing. The Red White and Blue chart is still in negative territory, but not full-blown bearish; this suggests choppy back and forth until the bear or bull gives up.

VXX – The VXX chart at Tuesday’s close suggest bullishness, today’s morning futures suggest the bullishness has a weekend. Above $34.15 the VXX chart still has gas in the tank.

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