SPX 5 min

    Posted by matt on 27th of Apr 2020 at 12:06 pm

    $SPX - Chart Link - so far a trend day, short term the last high had some MACD divergence

    anyway at 11 pm you can clearly see your buying opportunity there for a day trade when the fast 10 Stochastic became oversold while 60 Stochastic remained solidly above 80%, i.e. a Stochastic momentum trade. Also price bounced off the VWAP as well there

    Stochastic MOMENTUM Education

    Update: SPX 5 min

    Posted by matt on 27th of Apr 2020 at 01:25 pm

    $SPX - Chart Link- updated 5 min SPX, price pulled back to the 50 SMA on the 5 min, fast Stochastic oversold. VWAP, could be a lower risk are for the market to bounce from. 

    price is either going to fail here or push higher again. Typically though I like to see the pullback bounce low around 2 pm so it's early so that's a concern

    Update: Update: SPX 5 min

    Posted by matt on 27th of Apr 2020 at 02:39 pm

    $SPX - Chart Link - worked out perfected, typical trend day bounced around the 2 pm time frame I mentioned below and found support near 50 SMA and VWAP.

    UPRO - Chart Link - there's the UPRO 5 min equivalent. 

    you had two low risk times to go long on those two pullbacks today

    Timed perfectly as usual Matt! 

    Posted by pebs on 27th of Apr 2020 at 02:13 pm

    Timed perfectly as usual Matt!  Thanks!

    thx, it did play out

    Posted by matt on 27th of Apr 2020 at 02:46 pm

    thx, it did play out almost exactly, as I mentioned that typically the pullback mid day lasts until 2 pm EST, and that's almost exactly where it stopped and price started the next leg up

    Looks like it just triggered.

    Posted by cape_rover on 27th of Apr 2020 at 01:25 pm

    Looks like it just triggered.

    Thanks for linking this educational

    Posted by dillaketime on 27th of Apr 2020 at 12:33 pm

    Thanks for linking this educational post, Matt. I subscribed to BPT initially for the education - although  sometimes it's like drinking from a fire hose : ) - still I've learned a lot by studying the newsletters and reading the community board.

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