ONCE A RBB Now A 200-SMA Breakout
ONCE has gone from an RBB to a 200-SMA breakout. From the 3-day chart ONCE ran to find the 50-SMA pulled back with a Doji and popped to close over the 50-SMA printing a Bullish Morning Star. On the weekly chart has printed a Pop Out of The Box pattern. ONCE has the potential of challenging the 2017 highs, 30% away.
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Recently closed
GE 11% • ANF 56% • CREE 51% • FLO 3% • VXX 6% • CAT 39% • TWTR 50% • FEYE 28% • OCN 39% • TWTR 54% • QQQ 28% • QQQ 179% • TWTR 180% • VXX 375% VIPS 118% • WTW 21.9% •
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SPY • Evening Star
The SPY has been stuck in a box like trading rage for the last 11 days, I don’t know about you, but I for one am getting a little tired of it. BUT we must maintain our cool and be patient. Trying to trade in this chop is crazy, and the chopping machine will nibble away until you bleed to death.
Ok so whats the market up to today, I see the futures are up premarket. Well, the 200-SMA held the price up yesterday, we closed with a Doji, I see a bullish engulf, a low high, higher low ending with the Doji yesterday. If the futures can keep their strength, we could see a solid attempt to challenge $266.00 and win. It’s possible, but I think we need proof.
The VXX short-term futures
The VXX closed over the T-Line yesterday for the second day in a row. The morning futures have price back below the T-Line. Chop Chop Chop, proof test proof is what we need.
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