Saturday, February 23, 2019 3:22:13 PM
Bear in mind I'm almost always a bull (in my T/A bias)
Positives -
I see an inverted H&S price action pattern (Dec into Jan) since Dec's drop...
Price was 1st stopped by the 200 MA then supported (somewhat) by the 50 but now is above both...
The RSI has since stayed above 40-line and the MACD EMAs have crossed upwards...
Price is at resistance here - I'd be in on pullbacks, expecting support in the area between
the two MAs and look for a breakout, then look for the MA golden cross...
IMO, the Wall Street economy is now following the Main Street economy and I think
the majors have a lot more room to go as more positive news comes out...
I use the e-mini futures as proxies for the major markets:
Positives -
I see an inverted H&S price action pattern (Dec into Jan) since Dec's drop...
Price was 1st stopped by the 200 MA then supported (somewhat) by the 50 but now is above both...
The RSI has since stayed above 40-line and the MACD EMAs have crossed upwards...
Price is at resistance here - I'd be in on pullbacks, expecting support in the area between
the two MAs and look for a breakout, then look for the MA golden cross...
IMO, the Wall Street economy is now following the Main Street economy and I think
the majors have a lot more room to go as more positive news comes out...
I use the e-mini futures as proxies for the major markets:
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