Comments on: /ES & SPY At Trendline Support, Again

By: trade0039

trade0039 — Fri, 24 Feb 2023 18:06:40 +0000

In reply to Jeff Vandenburgh. If it GAPS down on Monday, retail trader will be trapped as they won't be able to Exit with minimal loss and Retail short sellers won't be able to short as price would have already made marginal low for retailer to short!

By: Jeff Vandenburgh

Jeff Vandenburgh — Fri, 24 Feb 2023 16:57:34 +0000

In reply to trade0039. Wouldn't that be the way to do it! Gap below that 200MA over the weekend! Of course it was a good level to daytrade for a bounce, but with treasury yields and USD staying bid, it's hard to see a rationale for holding longs over the weekend. Like Randy said, stay flexible and nimble if actively trading.

By: trade0039

trade0039 — Fri, 24 Feb 2023 16:44:03 +0000

As of 10:38 AM today, I see no bullish divergence on /ES and /NQ on Hourly however, there is bullish divergence on SPY and QQQ Hourly.

If we gap down on Monday, we could easily take down the bullish divergence on SPY and QQQ and also 200 SMA on both SPY and QQQ which could be very bearish.

Its a tough call we have to make!

By: MichelMayer

MichelMayer — Fri, 24 Feb 2023 15:02:36 +0000

Hi Randy, does it look like a bear flag on nq hourly

By: yahoo

yahoo — Fri, 24 Feb 2023 14:54:22 +0000

SPY (future) testing 200-day moving avg. I didn’t think this would happen so soon.

By: dayoub

dayoub — Fri, 24 Feb 2023 14:22:40 +0000

In reply to becky. yes

By: becky

becky — Fri, 24 Feb 2023 14:18:39 +0000

Up or down? :-)