Comments on: QQQ & SPY Hit Support, Bounce Likely Before Resumption of the Downtrend https://rightsideofthechart.com/qqq-spy-hit-support-bounce-likely-before-resumption-of-the-downtrend/ Stock Trading, Investing & Market Analysis Thu, 16 Jun 2016 19:47:24 +0000 hourly 1 https://wordpress.org/?v=7.0.2 By: snp https://rightsideofthechart.com/qqq-spy-hit-support-bounce-likely-before-resumption-of-the-downtrend/#comment-1834 Thu, 16 Jun 2016 19:47:24 +0000 http://rightsideofthechart.com/?p=171793#comment-1834 In reply to snp.

2.50 and out

]]> By: rsotc https://rightsideofthechart.com/qqq-spy-hit-support-bounce-likely-before-resumption-of-the-downtrend/#comment-1831 Thu, 16 Jun 2016 14:46:25 +0000 http://rightsideofthechart.com/?p=171793#comment-1831 In reply to GetItRiight.

We’ll need to give those 60-minute support levels a little room since the bigger & more technically significant picture is that bottom of that ABW pattern on the daily chart of SPY. I’m still leaning towards a reaction, which could be a bounce (most likely) or even that prices pause & consolidation on the bottom of that wedge before making a solid break below. Keep in mind that, barring a huge intraday drop below the ABW, only a daily close below matters as it is fairly common to see intraday breaks of support level on daily charts, only to see prices snap back up above support before the close.

]]> By: GetItRiight https://rightsideofthechart.com/qqq-spy-hit-support-bounce-likely-before-resumption-of-the-downtrend/#comment-1830 Thu, 16 Jun 2016 14:37:26 +0000 http://rightsideofthechart.com/?p=171793#comment-1830 Looks like the bounce fizzled…

]]> By: lee1 https://rightsideofthechart.com/qqq-spy-hit-support-bounce-likely-before-resumption-of-the-downtrend/#comment-1829 Thu, 16 Jun 2016 14:25:29 +0000 http://rightsideofthechart.com/?p=171793#comment-1829 In reply to snp.

sentiment change now so maybe possible by next week especially once the Brexit non issue hysteria ramps up next week

]]> By: snp https://rightsideofthechart.com/qqq-spy-hit-support-bounce-likely-before-resumption-of-the-downtrend/#comment-1828 Thu, 16 Jun 2016 14:24:10 +0000 http://rightsideofthechart.com/?p=171793#comment-1828 In reply to snp.

the next level down is 2005 and I don’t know if I believe (oil)

]]> By: snp https://rightsideofthechart.com/qqq-spy-hit-support-bounce-likely-before-resumption-of-the-downtrend/#comment-1827 Thu, 16 Jun 2016 14:23:08 +0000 http://rightsideofthechart.com/?p=171793#comment-1827 In reply to lee1.

2055 has been for a couple days. its a 236 fib of the February rally

]]> By: lee1 https://rightsideofthechart.com/qqq-spy-hit-support-bounce-likely-before-resumption-of-the-downtrend/#comment-1826 Thu, 16 Jun 2016 14:19:47 +0000 http://rightsideofthechart.com/?p=171793#comment-1826 In reply to snp.

@snp what is your projected low on the s+p now?

]]> By: snp https://rightsideofthechart.com/qqq-spy-hit-support-bounce-likely-before-resumption-of-the-downtrend/#comment-1825 Thu, 16 Jun 2016 14:18:36 +0000 http://rightsideofthechart.com/?p=171793#comment-1825 yep spy long now

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