Replies to post #259963 on SPDR S&P 500 (SPY)

[imiloa]

the last few days on daily, alone, look bullish to me.
rising MACD, Awe,
with RSI & STO midway from OB to OS,
plus the higher HOD today and green close, despite the EOD selloff.

everything screams gap up to me
so i held all my calls overnight (FB, NFLX, NVDA).

but i know full well all this could be a nicely painted bull trap,
and we could gap down and tank tmrw.

so rolls the trading rollercoaster
being why i'm always wary of holding overnight...

[risk on]

Like the chart Arch. If you squint eyes at the jagged recent bottom formed over the past two weeks, you may start to smile, because it’s got the makings of a “ J-HOOK” pattern, and IF it is , then SPY could be going on a ride, because J-HOOKS beget some powerful moves, and most all daily fractal techs coming out of OS, supports that notion even further. Again, Big IF , but something to watch, because the recent bottom sure looks like it To me, but then again I have squinty eyes. ;-)

[BOS-MMT]

Looks like so. BUT there is still big difference. In February, we have a extreme bullish bottom doji. I would like one more lower low to create bullish divergence in RSI and MACD.

[USDollar]

Hope?! Why hope. It means you are long. Otherwise there is no hope involved. For example you may hope for 230 to buy, but didn't.
I'm saying this because when you go on hope you tend to be completely biased reading a chart, not objective. This would elevate risk of decisions.

Anyway, let's look at elements you didn't point out , elements that I do look:
In your chart
d50 is not one I use and not like this but still may work. Look at its angle, it's downward, and look which side of it SPY is trading, under it..
That's bearish as it graphically shows the pressure of selling vs buying..
Which is stronger?! -> you say it so I won't

The indicators you have
I don't use them, but know about them
RSI is under 50, limp, banging against resistance
AD near zero, no interest, NO INTEREST !!! It means no one cares of this price (not low enough to entice)
MACD on the bearish side, with no, NO bullish divergence, which technically allows for a collapse bellow the bottom/s.

thanks for posting
Here's your chart (in our comments):