ugh, I'd just simple call it a 4th wave channel
bounce.
the really bullish case would be that high was a wave 1 not a 3
and that was a 2, but regardless even if a 4 looking at that 4K
area. But needs to take out the lower high now
On a 2hr time frame SPX has come up to the underside of its ATR
and the 60 Stochastic has crossed over 50% but has not confirmed.
If I wasn't already long SPX I'd probably wait for it to at least
take out that ATR since it's so close now and it's resistance that
is close. on the QQQ 2 hr same deal the ATR is just above, while
the 60 Stochastic is nearing the underside of 50%.
Roger we could be looking
Posted by bigg on 1st of Mar 2021 at 03:15 pm
Roger we could be looking at a sloppy double bottom that could go to 4000 on SPY
ugh, I'd just simple call
Posted by matt on 1st of Mar 2021 at 03:21 pm
ugh, I'd just simple call it a 4th wave channel bounce.
the really bullish case would be that high was a wave 1 not a 3 and that was a 2, but regardless even if a 4 looking at that 4K area. But needs to take out the lower high now
On a 2hr time frame SPX has come up to the underside of its ATR and the 60 Stochastic has crossed over 50% but has not confirmed. If I wasn't already long SPX I'd probably wait for it to at least take out that ATR since it's so close now and it's resistance that is close. on the QQQ 2 hr same deal the ATR is just above, while the 60 Stochastic is nearing the underside of 50%.
you can see price pulled
Posted by matt on 1st of Mar 2021 at 04:02 pm
you can see price pulled back from that ATR