Aug. 4 at 8:12 PM
$SPY >> Daily Chart >>
5 days down & rebound / that's actually a classic bounce play setup and even better when it's an index like
$SPY
all of Friday's bear gains are now gone and
$SPY is testing the closing price from the 31st on the after hours rally
it's a painful day for the bears, especially those that held short positions over the weekend
the daily chart has made a major reversal with the gap between last Thurs. & Fri. being filled today
RSI bounced back above 50 after closing below for the 1st time since the Feb. pullback
Fast STO bull cross and back above 50
+DI bull crossed -DI on ADX / bulls need =DI to cross above ADX
The MACD line has leveled on both the 12,26,9 & 8,13,5
CCI is back above 0
FORCE bounced and the CMF histogram wen up after days of consolidation
On Balancer volume spiked up
i wanted to show the bullish highlights form today's bounce
It's evident that people bought the dip /Before the open Mike Wilson was telling everyone to buy
$SPX $RSP $VXX $VIX
