At the U-MLH the air is very, very thin now.
SPY is experience this and it looks like this market shows it's hand.
It's the second time where the breakout failed.
A classical Double-Top.
Today SPY will open back into the Fork, which is a very bad sign for climbing markets. And if SPY can't close outside the Fork today, it would be a clear short to me.
So, after the Wash of the Stops at the Top, what follows is the "Rinse" of the support level and then way down to the PTG1, the 1/4 line, and further to the PTG2 at the Center-Line.
SPY is experience this and it looks like this market shows it's hand.
It's the second time where the breakout failed.
A classical Double-Top.
Today SPY will open back into the Fork, which is a very bad sign for climbing markets. And if SPY can't close outside the Fork today, it would be a clear short to me.
So, after the Wash of the Stops at the Top, what follows is the "Rinse" of the support level and then way down to the PTG1, the 1/4 line, and further to the PTG2 at the Center-Line.
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youtube.com/@TradersTradingEdge
- Lean on facts, not on hope.
- Trade with an 80% edge.
- Follow the rules and the rest will come.
youtube.com/@TradersTradingEdge
- Lean on facts, not on hope.
- Trade with an 80% edge.
- Follow the rules and the rest will come.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Get Your New Chart Analysis Video On YouTube!
youtube.com/@TradersTradingEdge
- Lean on facts, not on hope.
- Trade with an 80% edge.
- Follow the rules and the rest will come.
youtube.com/@TradersTradingEdge
- Lean on facts, not on hope.
- Trade with an 80% edge.
- Follow the rules and the rest will come.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.