SPDR S&P 500 (SPY)

[learningboutinv]

QQQQ - 10min chart showing a MACD Divergence and a possible inverse H+S. Target for move is ~46.43 which is close to the 100dma. (Watch the QQQQ Neckline @ 45.75. Break up of 45.75 and we may get that price objective.

SPY - 10min I-H+S too? Target ~129.5? Watch the neckline @ 128.27. Break of 128.27 and we may see the Price Obj. of ~129.5.


These are small bounces. The trend on Daily and Weekly chart is still down. So if you are trend trading that means, short the bounces. If you are counter-trend trading you'll have to be quick with your finger on the trigger otherwise as foot says you may have a clunker when the overall trend flexes and exerts it's muscles. LOL... (Edit if you buy this bounce put a tight stop right below the neckline.)