The good news for the bulls is that many doubt the veracity of today’s bounce. If we were going to see a failed bounce, then it likely would have happened this morning. Instead, the bulls have held the line and are gaining confidence as the session progresses. Sentiment aside, the 30-minute chart of the SPY below, shows the ETF for the S&P 500 to be breaking out of a falling wedge pattern.
In order for this move to translate into something more than a flash in the pan, the bulls are going to need to hold this breakout.
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Excellent.. 🙂
Thanks
nice balanced perspective as usual, tyvm
thanks, appreciate it
The only thing that pays is price but is the volumen not diminishing on this last surge?
Volume is out of the equation guys?
Regards.
Sometimes the volume follows price. We shall see.