Spy Pre-Market Thoughts | Daily Commentary
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Happy Tuesday
Yesterday wasn't the most exciting day. Had some surprises after market closed and we should see something a little different today. The biggest day will probably be Friday with earnings though. Got 2 more S/R lines to add to the pie.
What is the market saying?
- It's chip choppy until the big names release earnings, and until government decides to on what to do with the lockdowns.
1) Weekly Time Frame
- Have a nice pin bar / tombstone candle made last week. the case could be made for bulls or bears. If this is the top of a run, it's possibly a reversal. Or this could be a slight sell of uncertainty, just before another run up. Tough call ATM. A bull flag was completed on the weekly. It resulted with a rejection.
2) Daily Time Frame
- Bulls trying to hold out of the channel breakout. Friday was a close under the 9 EMA. Yesterday they managed to escape from under here and close above.
3) Daily Indicator Standings
MACD: Above zero // Buy // Lines touching
BB: Hit deviation line 15 July // Working down to centerline
RSI: Set a 6 day low // 56.52 -> 59.08
KO: Signal line above 0 // Slow line above zero // Sell signal
OBV: Overall Uptrend // Near volume amount before the crash, above 10bil for 3 days
Resistance levels
(Pre-Market) 322.35
322
322.5
322.75
323
323.6
324.5
325 (pshychological)
327
Support levels
(Pre-Market) 321.43
322.4
321.5
320.95
320.75
320.2
320
319.75
319.3
Unfilled gaps
North side
327.23 - 333.48
South side
319.09 - 318.92
310.68 - 310.52
309.07 - 308.36
296.74 - 295.44
291.95 - 286.28
3) Side Thoughts
If this helps you like and follow the chart all day. Ill be giving updates as they show up! Getting feedback helps a lot. Thanks for taking the time to read. All of this information is my interpretation and shouldn't be taken as trading advice. Good luck out there traders!
Happy Tuesday
Yesterday wasn't the most exciting day. Had some surprises after market closed and we should see something a little different today. The biggest day will probably be Friday with earnings though. Got 2 more S/R lines to add to the pie.
What is the market saying?
- It's chip choppy until the big names release earnings, and until government decides to on what to do with the lockdowns.
1) Weekly Time Frame
- Have a nice pin bar / tombstone candle made last week. the case could be made for bulls or bears. If this is the top of a run, it's possibly a reversal. Or this could be a slight sell of uncertainty, just before another run up. Tough call ATM. A bull flag was completed on the weekly. It resulted with a rejection.
2) Daily Time Frame
- Bulls trying to hold out of the channel breakout. Friday was a close under the 9 EMA. Yesterday they managed to escape from under here and close above.
3) Daily Indicator Standings
MACD: Above zero // Buy // Lines touching
BB: Hit deviation line 15 July // Working down to centerline
RSI: Set a 6 day low // 56.52 -> 59.08
KO: Signal line above 0 // Slow line above zero // Sell signal
OBV: Overall Uptrend // Near volume amount before the crash, above 10bil for 3 days
Resistance levels
(Pre-Market) 322.35
322
322.5
322.75
323
323.6
324.5
325 (pshychological)
327
Support levels
(Pre-Market) 321.43
322.4
321.5
320.95
320.75
320.2
320
319.75
319.3
Unfilled gaps
North side
327.23 - 333.48
South side
319.09 - 318.92
310.68 - 310.52
309.07 - 308.36
296.74 - 295.44
291.95 - 286.28
3) Side Thoughts
If this helps you like and follow the chart all day. Ill be giving updates as they show up! Getting feedback helps a lot. Thanks for taking the time to read. All of this information is my interpretation and shouldn't be taken as trading advice. Good luck out there traders!
הערה:
big battle here. bulls are looking to the back up crew.
הערה:
backup crew didnt show up.
first support is 321.55.
bears closing under here leads lower.
first support is 321.55.
bears closing under here leads lower.
הערה:
321.5 and 321.05 are going to be little support bounces along the way.
under the support of 322.5 is no bueno though. bears ball then