$SPX - Chart Link - had a trusty ABC
pullback today after the monster gap. The gap was TOO big for
one of those gap and go trend days, however as far as going long
that ABC would have been where I would have taken a shot
$SPX - Chart Link - 60 min, here's an
aggressive ending diagonal, I'm not sure about it, it may need to
be redrawn a couple times or need some time to flesh out but
something to monitor now that we are in the target zone
$SPX - Chart Link - 2hr view, I would like
to see that faster length Stochastic get overbought, we had a MA
ribbon pinch last week
Posted by kevindeng0727 on 26th of May 2020 at 02:06 pm
Thanks Matt. So what range will be strong enough of a gap but
not too strong? Becasue last week Monday's gap was similar size but
able to trend most of the day.
breakaway gaps tend to occur over a downtrend line or sloping
trendine or from more of an oversold condition - last Monday we had
that, but on Friday's close we were not
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SPX 5 min
Posted by matt on 26th of May 2020 at 01:26 pm
$SPX - Chart Link - had a trusty ABC pullback today after the monster gap. The gap was TOO big for one of those gap and go trend days, however as far as going long that ABC would have been where I would have taken a shot
Update: SPX 5 min
Posted by matt on 26th of May 2020 at 01:33 pm
some additional market comments
$SPX - Chart Link - 60 min, here's an aggressive ending diagonal, I'm not sure about it, it may need to be redrawn a couple times or need some time to flesh out but something to monitor now that we are in the target zone
$SPX - Chart Link - 2hr view, I would like to see that faster length Stochastic get overbought, we had a MA ribbon pinch last week
Thanks Matt. So what range
Posted by kevindeng0727 on 26th of May 2020 at 02:06 pm
Thanks Matt. So what range will be strong enough of a gap but not too strong? Becasue last week Monday's gap was similar size but able to trend most of the day.
breakaway gaps tend to occur
Posted by matt on 26th of May 2020 at 02:55 pm
breakaway gaps tend to occur over a downtrend line or sloping trendine or from more of an oversold condition - last Monday we had that, but on Friday's close we were not