Pink channel shows multiple points of contact. Channel is exhausted.
Blue wedge shows long term pattern, ascending wedge, which is also exhausted.
We are RSI overbought, price overbought, and unknown economic and world issues going into holidays.
We should see a 7% correction or more here in my opinion.
Although the top of the pink channel appears to be hanging off into nowhere on the Daily chart, it has acted as support and resistance since 2010.
I apologize if I cannot fit everything in the chart at one time. I will try posting multiple views if something is not shown.
Thank you to a member who alerted me that this view was not supported in the last chart. I appreciate this.
This is an update and response to my chart from Nov 15, 2019 - "SPY / SPX - Short Entry Almost Ready"
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY
Short SPY and AAPL.
Blue wedge shows long term pattern, ascending wedge, which is also exhausted.
We are RSI overbought, price overbought, and unknown economic and world issues going into holidays.
We should see a 7% correction or more here in my opinion.
Although the top of the pink channel appears to be hanging off into nowhere on the Daily chart, it has acted as support and resistance since 2010.
I apologize if I cannot fit everything in the chart at one time. I will try posting multiple views if something is not shown.
Thank you to a member who alerted me that this view was not supported in the last chart. I appreciate this.
This is an update and response to my chart from Nov 15, 2019 - "SPY / SPX - Short Entry Almost Ready"
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY
Short SPY and AAPL.