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The market is off and running, and we are pretty busy inside the 12631 Trading Service within The PPT. On days like today, the way in which we use The PPT algorithm makes it quite easy to adjust to a market that seems to be changing in character. The issue now is how lasting this move higher is. When you look at a 30-minute chart of the SPY below, recall that I discussed the rejection of a breakdown on Monday, despite how dire things looked for the bulls.
Since that rejection of the downside, the market has seen a quick move higher, followed by a healthy consolidation and a breakout from a rising channel today, as you can see below. The daily timeframe tells us that we are still in a larger rising channel, but for now the bulls are doing what they need to be doing, and playing along one day at a time seems to be the correct strategy.
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I am short here stop 1190es, I think there is some down moves to come they may bite ur words. Wont give exit but after 20pointsthis plus down my stop be set and I will continue to my silent trading and possible reversal
For disclosure purposes no misintent or harm doing. Just imho. Stop will be adjusted at close as the area itself can do the job and 90I is within area
Chess, with the solar industry taking it on the chin seemingly every day, I was wondering if you were looking at any of them. I was thinking of picking up a little YGE in hopes of a bounce, but that chart is ugly. Any insight is appreciated.
Well, TAN is up 1.5% but yea they are lagging. FSLR still has that bullish RSI divergence.
Thank you sir.