Sunday, June 26, 2016 8:42:18 AM
SPY IWM QQQ
SPY - Lots of chatter about similar patterns to the past, new lows, big drop calls etc...for now what I see is a break of a rising wedge and price stopped at the cloud. It's below it 8, 10, 21 and above its 100 & 200 DMAs. I believe a test of the 200DMA is in the cards at some point and will reassess from there. TEIN closed over 2.00 on Friday, which tells you that at some point this week the overnight lows from Brexit should be revisited this week at the very least.
IWM - Should see 110 at some point this week
QQQ - 100.50-102 at some point this week. Will sell bounces until it finds a base and produces a reversal candle/confirmation.
SPY - Lots of chatter about similar patterns to the past, new lows, big drop calls etc...for now what I see is a break of a rising wedge and price stopped at the cloud. It's below it 8, 10, 21 and above its 100 & 200 DMAs. I believe a test of the 200DMA is in the cards at some point and will reassess from there. TEIN closed over 2.00 on Friday, which tells you that at some point this week the overnight lows from Brexit should be revisited this week at the very least.
IWM - Should see 110 at some point this week
QQQ - 100.50-102 at some point this week. Will sell bounces until it finds a base and produces a reversal candle/confirmation.
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