Weekly 3 Bar Cradle Pattern Busted Out
Weekly 3 bar cradle pattern busted out and had shown bullish followthrough strength. The weekly chart has been in a fantastic bullish trend with buying opportunities on the daily chart. The daily chart shows a gap with bullish consolidation waiting for the T-Line to catch up. Price action and the T-Line have worked together again to present a buying opportunity with Tuesdays Engulfing candle and yesterdays inside day. We are bullish on the chart and a bullish buy over $27.35 with a protective stop about $26.50
Past performance is not indicative of future returns
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SPY • In The T-Line Trap
Yesterday was the 4th day of a lower low and lower high, price action also fell into a gap, and the Bulls have seemed to find a little support (for now). Overall the bigger trend is still bullish bit the swing trade trend is not so much. Not until we see a reversal pattern/price action. Stick with and focus on good trading rules, if you are not making money it’s not the market’s fault. We closed 1/ our QCOM for 58% yesterday
****VXX – The VXX is still trying to construct a bottom and getting closer to the downtrend line. Will the downtrend line reject price again or open the gate?
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Past performance is not indicative of future returns
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