SPY: Possible H&S Developing

Published 03/30/2014, 02:55 AM
Updated 07/09/2023, 06:31 AM

SPY - Had potential for long follow-through today but it just didn't pan out.  It may be tough shorting a negative fast line change on the hourly (being that there would be potential for a 3d criteria) but it will have to be entertained.  May be a little inverse H&S developing but there's nothing to trade unless it breaks the neckline.

SPY
DIA -Daily may have just triggered a shortDIA


With a higher time frame look the daily short looks to be worth a try stop at around $164.33 - 164.49 area

DIA
QQQ - short trigger within a falling wedge, but a falling wedge can break in either direction
QQQ
IWM - similar scenario as QQQ
IWM
XLF - nothing to report.  Important that it holds support after it's recent breakout.  May take some time to consolidate if it hods these levels
XLF
IYT - 50% retrace was support, now resistance?
IYT
EURUSD 4H
EURUSD
ES 4H
ES 4H
Overall we just have to let it coil and play the break
ES Daily

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