Daily Flagpole Weekly Bullish Engulf
The daily flagpole and flag are a weekly Bullish Engulf with a high mounted Doiji or what we call a Doji Continuation pattern set up. For about the past eight months QNST has been in a slow upward base construction mode and has finally broken out. I will add QNST to the LTA-Live Trading Alerts Real Time Market Scanner for a buying alert. QNST entry bullish buy box or a tradable breakout, stop below $16.75
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SPY • Closes Over 200-SMA
Yesterday the SPY, on a very decisive day closed above the 200-SMA on greater volume than the past two days. We have a Bullish Inverted Head and Shoulder bottom with price approaching the 50-SMA. When approaching the 50-SMA, it’s pretty normal to see a disturbance between the buyers and sellers. Listen see to what price action is suggesting, become friends with price action, maybe trading will be easier.
****VXX – Yesterday the VXX slid through the 200-SMA and closed weak, watch for a bounce.
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Investing and Trading involve significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, Right Way Option, Trader Vision 2020, Top Gun Futures or Rick Saddler, Doug Campbell, Ed Carter, Steve Risner is to be considered financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.
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