What a nice recovery in the SPY yesterday opened at $289.24 and closed at $292.82, also closed back in the T-Line Bands. Yesterday’s price action tested and bounced off the March 8, trendline. Here are a few of my concerns, May 1 was a Bearish Engulf with follow-through, then a challenge that failed and then there’s yesterday’s new low. So have a high/ low – lower high/ and a lower low. A close below the May 3, trendline and below yesterday’s low could trigger a bit more selling. No doubt yesterday’s candle (price action) was impressive but, it’s the following days that need follow-through that makes us money. THE VXX chart did close over the T-Line Bands and is in trend position to create a bullish pattern. Let’s all exert a little caution!
💰Yesterday we added to our SBUX trade on the pullback and bought ORCL. Both of these trades came from the LTA Alert Scanner Alerts
✅ 💰 Here are eleven tickers I am adding to a watchlist for consideration only. Trades may or may not be taken. VXX, SQQQ, XBI, SPXS, OLLI, ABT, SPXS, MJ, OECL, SBUX, AIG, GS.
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