**S&P 500 and Market Behavior:**
We've been tracking the S&P's journey, and it's been quite the ride. After shorting the S&P at yesterday's close by snagging some SDS (an inverse ETF), I cashed out this morning when we dropped to that first key support level. I don't feel trouble is over however It's all about that classic trading mantra: buy support, sell...
CYH tested 14.71 three times in recent weeks and yesterday's candle tested several fibonacci levels. The MACD is curling up and is ready to cross. The RSI is still on the cool side.
Looking for a move with volume over the .61 fibonacci level to confirm the break out.
Short term target: 17.04 then 18.46
CYH has been making a series of HH and HL since breaking out of a 5 dollar resistance.
After making a high of 13.7, price has make a sharp correction and if the analysis is correct, hidden bullish divergence will be in play soon potentially
@nmike , i could be wrong.
will follow up with this in 2-3 weeks time.
This post is solely for educational purpose.
Ascending Triangle, awaiting confirmation (59%)
Pros:
Descending volume during formation
Volume at break out
PPS above 50MA and 200MA
RS above 0 and ascending
R/R ratio above 9
ATR ascending
250RSI above 50
Target:
PT = 17.53$
Help how ever you can to keep this alive.
Thank you to those who have donated Coins!
Always do you own Due dilligence. This is not...
This is a good looking chart:
1. Trend line was tested and held 6x
2. 3 prior candles showed strength, made higher lows with long wicks to close much higher
3. Price closed above resistance (white line)
4. Price tested the .382 fibonacci level and closed right under it (new resistance)
5. 9EMA is x 50 SMA
6. MACD crossing
7. Relatively close to POC...
CYH is still consolidating. I have not entered yet but think I will tomorrow. Smallish stop loss under support, not much to lose.
Could see a big breakout.
