Friday Follow-Through?

Thursday last week the SPY printed a Bearish Engulf and Friday we did see minor follow-through with Friday's close below the halfway point of the Bearish engulf and a lower low. Price has closed below our blue tightening wedge lines both Thursday and Friday. On the bright side, the SPY chart trend still has a bullish attitude with price closing Friday above the T-Line Bands. If the sellers can print a lowe close today below the green T-Band $286-285, could see a test. A bullish close over $290.35 would suggest the bulls are not finished with there challenge of the $293.95 high. This is a pretty heavy week of earnings, chose wisely when taking on a position or holding a position. With price action still in the bullish side of the T-Bands, we will remain cautiously bullish and continue to trade with clarity and rules.

Trade Alerts with LTA has proven to be the #1 alert system in trading. Serious about making money? LTA will provide alerts to you in real-time on your computer screen based on what you are looking for. Candlesticks signal, chart patterns, or a combination of both and in different time-frames. Do you have a special chart pattern? The team at LTA can create it for you.

✅ Trade-Ideas for consideration: BKH, PCG, NSP, USO, TZA, KBH, RIOT, LULU, AAPL, CTRP.

You know your the best when other educations use your work.
Rick's Favorite Charting Software

Free YouTube Education  •  Subscription PlansPrivate 2-Hour Coaching

DISCLAIMER: Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is not financial or trading advice. All information provided by Hit and Run Candlesticks Inc, its affiliates and representatives are intended for educational purposes only. You are advised to test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service

Comments are closed.

Skip to toolbar