Here's an update to the 1 min SPY chart I posted earlier.
As I stated in my previous post, I looked like it would bust
up through the 200 SMA, which it did.
Since then it's been consolidating into a triangle pattern, for
now I favor another break to the upside via the decreasing
volume throughout this triangle, but may need some more
sideways time, we'll see.... again this is only a 1 min
chart.
Elliot Wave count could be an A up, this as a B consolidation,
then a C up
Here's an update to the
1 min SPY
Posted by matt on 5th of Aug 2011 at 01:48 pm
Here's an update to the 1 min SPY chart I posted earlier. As I stated in my previous post, I looked like it would bust up through the 200 SMA, which it did.
Since then it's been consolidating into a triangle pattern, for now I favor another break to the upside via the decreasing volume throughout this triangle, but may need some more sideways time, we'll see.... again this is only a 1 min chart.
Elliot Wave count could be an A up, this as a B consolidation, then a C up
Matt
Posted by kobie on 5th of Aug 2011 at 02:07 pm
Indu5 triangle,consolidation?
5 min H & S....target 1260
Posted by marks on 5th of Aug 2011 at 02:16 pm