MDA - Market Direction Analysis Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : MDA - Market Direction Analysis

SPY 684.84

+0.6%

4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

Recommended by:

ajtj99

IC720

To: ajtj99 who wrote (97278)	3/26/2020 12:37:24 PM
From: HairBall	2 Recommendations Read Replies (1) of 99985

ajtj99, SPY declined on an intraday basis and tested yesterday's high. From there significant buying prevented the price from dropping below. As this price action continues, the SPY continues to get more OB on an intraday basis. However, if price continues to move sideways as you suspect, the support line of the rising wedge could get adjusted out, which could morph the wedge into a rising channel. I was thinking you were suggesting adjusting the resistance line up to achieve the morph. Maybe it gets done less dramatically...gg I am watching my intraday models to see if the RSL of the wedge gets tested and what they suggest will be the result when it occurs. Regards, LG

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next