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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: ajtj99 who wrote (97278)	3/26/2020 12:18:38 PM
From: ajtj99	1 Recommendation Recommended By Qone0 Read Replies (1) \| Respond to of 99985

SPX daily falling resistance tomorrow will be around 2675 SPX. We may poke above that, but there is a good chance we will close below that zone regardless of what happens. We'll see.

To: ajtj99 who wrote (97278)	3/26/2020 12:37:24 PM
From: HairBall	2 Recommendations Recommended By ajtj99 IC720 Read Replies (1) \| Respond to 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