Last night was a really bullish uptrend! Not bad actually. In fact, there is an indicator that kind of showed up. If you look at the Chikou Span, you would notice that it crosses historical price, and that's an indicator that there is a weak bullish trend. True enough there was one last night.
So where do we go from here you may ask, well, honestly I don't know, and I pretty much don't care. I am only hoping that the SPY will correct itself the way it did after I sold my trade, and hopefully it goes down, down, DOWN!
My assessment for tonight is that it will try to pierce the Kumo (Cloud) and the base of the Kumo is actually the resistance line, in order for the SPY to break through the Kumo, there must be a huge buying frenzy, and the closing price must be within the cloud, or out of the top of the cloud. That would be disastrous because that would mean I would have to cut loss.
The current pre-market prices are now quite iffy, or undecided, which is good because that just means if the market were to come crashing down, then my trade would be very safe. I am hoping for that. Let's see what happens tonight. :)
No comments:
Post a Comment