SDOW is shown here on a 30 minute chart current rising above a parallel descending channel which is within a longer trend of a downward-facing megaphone pattern where it is currently situated near the top of the megaphone. I have drawn the two trendlines onto the chart and added an RSI indicator. My plan is to take a short trade on SDOW by looking for an...
SPY has been in an erratic uptrend since October. on the 2H chart, It is now in a megaphone pattern with more touches of the lower support trendline than touches of the upper resistance trendline. This suggests a breakdown out of the pattern. The MACD shows the lines below zero and the MACD about to cross under its signal. Price is about to break under...
$SPY $AAPL $SPX $QQQ $HD Picked up some September EXP puts on $HD because of this Megaphone top + RSI divergence.