Normally expect a bounce or pullback on wide bands. After
that who knows how far it goes. Fibs drawn could be
helpful. Matt could probably answer this question better.
There is price support near the 393 area which could be a target on
the way down.
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Nice double top today on
Posted by EdZ on 18th of Jan 2023 at 11:52 am
Nice double top today on the SPY 5min with lots of tails near the top and wide moving averages band.
Looks like symmetry was broken
Posted by EdZ on 18th of Jan 2023 at 12:21 pm
Looks like symmetry was broken on this move down on 5min.
Thanks. EdZ. Double top is
Posted by mdgfain on 18th of Jan 2023 at 11:58 am
Thanks. EdZ. Double top is concerning. Would the wide bands suggest a possible snap back or continued plunge?
Normally expect a bounce or
Posted by EdZ on 18th of Jan 2023 at 12:00 pm
Normally expect a bounce or pullback on wide bands. After that who knows how far it goes. Fibs drawn could be helpful. Matt could probably answer this question better. There is price support near the 393 area which could be a target on the way down.