$SPX - Chart Link - market made a
divergent high and has pulled back - price is nearing the 50 SMA on
the 5 min and MACD has recycled back to zero. For now 60
Stochastic is still above 80% which I would watch.
on a bullish side this could be a small abc pullback with wave a
and b now in, maybe a small c down to complete then an afternoon
push again. But 60 Stochastic goes well below 80% then I
would rule that out
$SPX - Chart Link - I think I called this
pretty well today, called the trend day gap in the morning, which
you know how they behave you can BUY the big morning gap. You also
know they end to have a mid day consolidation which we got. Price
tested the 50 SMA, MACD bounced near zero.
also note you had two pullbacks intra day where the fast 10
Stochastics got oversold, I call those Stochastic MOMO long trades
when the 60 Stocahstic is over 80%, here's education on that
SPX 5 min
Posted by matt on 6th of Apr 2020 at 10:47 am
$SPX - Chart Link - MA ribbons got WAAAAY too wide there,
Update: SPX 5 min
Posted by matt on 6th of Apr 2020 at 11:58 am
$SPX - Chart Link - that last push did create some MACD divergence on the 5 min
Update: Update: SPX 5 min
Posted by matt on 6th of Apr 2020 at 12:44 pm
$SPX - Chart Link - updated view, this is the time of day you typically get about a 1hr pullback and sideways consolidation on the 5 min
Update: Update: Update: SPX 5 min
Posted by matt on 6th of Apr 2020 at 02:28 pm
$SPX - Chart Link - market made a divergent high and has pulled back - price is nearing the 50 SMA on the 5 min and MACD has recycled back to zero. For now 60 Stochastic is still above 80% which I would watch.
on a bullish side this could be a small abc pullback with wave a and b now in, maybe a small c down to complete then an afternoon push again. But 60 Stochastic goes well below 80% then I would rule that out
Update: Update: Update: Update: SPX 5 min
Posted by matt on 6th of Apr 2020 at 03:10 pm
$SPX - Chart Link - I think I called this pretty well today, called the trend day gap in the morning, which you know how they behave you can BUY the big morning gap. You also know they end to have a mid day consolidation which we got. Price tested the 50 SMA, MACD bounced near zero.
also note you had two pullbacks intra day where the fast 10 Stochastics got oversold, I call those Stochastic MOMO long trades when the 60 Stocahstic is over 80%, here's education on that
https://breakpointtrades.com/education/legacy/?nl_id=3304
and the trend day education
https://breakpointtrades.com/education/legacy/?nl_id=3297
Update: Update: Update: Update: Update: SPX 5 min
Posted by matt on 6th of Apr 2020 at 03:49 pm
$SPX - Chart Link - WOW
also the arrows show you two intra day buy opportunities you ahd
yup.... and i destroyed it
Posted by arun on 6th of Apr 2020 at 03:50 pm
yup.... and i destroyed it today
hell yeah arun!!!
Posted by matt on 6th of Apr 2020 at 03:52 pm
hell yeah arun!!!
Matt you were spot on
Posted by cape_rover on 6th of Apr 2020 at 03:23 pm
Matt you were spot on - nice!