in consolidating phase not much trending going on one day a new trend will start
chart to watch for coming week. The lines speak from themselves A breakout or a breakdown coming ?? What do you think ?
breaking the trading channel to the downside MtS downsloper in effect Holding on to support, if not more weakness coming.
Ideally for the uptrend it must stay in the median line upsloper. Still in the BOX, if not and it breaks lower horizontal support than more weakness is coming.
downsloper in effect and broken an upward sloping trendline current price: 10.583
I think this MtS median line upsloper will tell a lot in future, for example break of lower parallel will lead to market weakness in general
If below < 195 I expect a move down to the sliding parallel (near the lower parallel) in the upsloper ; 6 higher highs in current uptrend
What do you think what will happen ?
weak relative strenght against the NDX downsloper in effect
this is called an uptrend, higher highs and higher lows :-)
If above the upper parallel of the downsloper another swing higher could start. This can take some time but I will be watching this. #trading $SPY
Straight upmove from the lower parallel to the upper parallel in the downsloper Now at resistance with overbought indicators. Current price 236
Breakout coming for SLV ??
* triple top in place * break of horizontal support of a BOX (223 <-> 240-245) * downsloper in effect * also an upsloper from March & now nearing the lower parallel for support * support of 200 Ma around 215 Looks to me it has turned and matter of time till lower parallel will be broken and probable path of price is the downsloper.
Above 1766.5 is a new breakout above the upper parallel of the downsloper and a move above some horizontal resistance. If above the move has potential for more upside. Current price 1764.5
the resistance lines are broken
Upsloper in effect but it has to clear some lines to get momemtum