Trend Flag T-Bands V-Stop Price Action
What a great set of contributions to have for a trade idea AMD has them all, Trend, T-Bands, V-Stop, Price Action. AMD painted a little Morning Star yesterday with seven days of bullish consolidation. Consolidation setups are made up of 4 basic parts, #1 The run #2 the consolidation #3 The turn to challenge the top #4 The Breakout. AMD is starting the turn to challenge the top. The CSCO chart is in #4 Breakout. AMD bullish above $34.10, stop near $32.50
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SPY • Trending
The Spy found a bottom yesterday and the Lower Blue T-Line band the V-Stop also acted a supporting friend. The bigger trend is still in good shape with the price having a minor profit-taking pullback. A close today over $291.60 would be positive for the bulls. Could be choppy and a slow day today, the Feds are having a party, and the outcome could affect the attitude of the market.
****VXX – The VXX has very few friends lately and yesterday was no exception.
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