Mar. 20 at 10:40 AM
$DELL
Renko Trading System-based answer:
$SPY should confirm before a new DELL long.
SPY PRE-Market:
$654.22
Required SPY criteria:
1. Hold above 200-DMA (~658.02) → no breakdown environment
2. Reclaim + build above 200-DMA (acceptance, not just a wick) - SPY can pop above the 200-DMA — real strength is staying above it.
3. 195-min Renko flips bullish (green sequence + higher low)
4. Ideally higher high printed after the bounce
Confirmation (adds conviction):
1. XLY:XLP trending up (risk-on)
2. Semis leading (SOXX strength)
Avoid DELL long if:
1. SPY below 200-DMA
2. Weak bounce → lower high forming
3. Defensives leading
Bottom line:
DELL is strong, but you want market tailwind + alignment before entering.
