Comments on: QQQ & SPY Outlook & Top Component Analysis (video) https://rightsideofthechart.com/qqq-spy-outlook-top-component-analysis-video/ Stock Trading, Investing & Market Analysis Thu, 01 Mar 2018 19:54:05 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: rsotc https://rightsideofthechart.com/qqq-spy-outlook-top-component-analysis-video/#comment-4137 Thu, 01 Mar 2018 19:54:05 +0000 https://rightsideofthechart.com/?p=185933#comment-4137 18 minutes to go before this current 60-minute candlestick is finalized (from the time I took this screenshot & started composing this update) but so far, following a brief momentum-fueled overshoot of the bottom of the support/buy zone on SPY, it has snapped back up into the zone & could print a nice hammer reversal candle. A long here with a stop on a 60-min close below this candlestick’s low of 266.00 offers an objective entry with a very favorable R/R for a move up to the 275 area or beyond (1st chart, 60-min, below).

The potential bullish divergent that I was/am on watch for during the discussion at the end of the video would be confirmed with a bullish crossover above the previous trough in the MACD, should SPY reverse soon & rally into the close today. Still could go either way but something worth monitoring for early evidence of a potential trend reversal & rally in the coming days.

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