Saturday, December 10, 2016
Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
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Changing Patterns

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As the market bounces a bit more into midday, note that the SPY is working through a more neutral sideways trading channel, highlighted below on the 30-minute timeframe for the actively traded S&P 500 Index ETF.

Also note that bulls are having a bit of trouble pushing up and over our key reference point this week—The declining 50-period moving average (dark blue line) on this 30-minute timeframe. A push over it likely unlocks a further bounce this afternoon. Another rejection, and look out below.

What are you trading this afternoon?

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SPY

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9 comments

  1. bluestar

    Long lulu calls from this morning. its a trade. you all know where i stand.

  2. gharo34

    SWC trying to recapture the 20d. Seems to be a decent Russian Bear proxy.

  3. chedda

    Bot FB. $73.1. Can’t get into Pelican room. Your Weekly strategy session pops up but the box with drop to link to Pelican room not working:(. Jeremy little help and offered a refund of my subscription. I don’t want a refund, I want access to the Pelican room:(