That 20 month MA is powerful resistance. May need another
$2 trillion pump to get it over the line. And in the end we
will all have to share in paying that big bar tab
back.
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SPX 60 min observations
Posted by matt on 20th of Apr 2020 at 04:06 pm
$SPX - Chart Link - take a look at the 60 min SPX. First off note the fast MA ribbon, starting to squeeze again.
as far as price I drew a trendline below, if that breaks, could start a larger sell off.
another support area to look at is the trendline around the 80% area on the 60 Stochastic, think of it like a ledge support.
other than that I guess a slight positive would be that the 10 length Stochastic has already worked to mostly oversold.
anyway we'll see what happens tomorrow, otherwise watching the fast MA ribbon and those two trendlines
Update: SPX 60 min observations
Posted by matt on 21st of Apr 2020 at 09:37 am
$SPX - Chart Link - following up on the 60 min chart from yesterday, it gapped below the trendline
will wait for 60 min
Posted by arun on 21st of Apr 2020 at 10:07 am
will wait for 60 min signal on this amazing chart and go short or long depending ....booked all gains from last night
That 20 month MA is
Posted by ssaffer on 20th of Apr 2020 at 04:09 pm
That 20 month MA is powerful resistance. May need another $2 trillion pump to get it over the line. And in the end we will all have to share in paying that big bar tab back.