SPX500 SPY SPX update (STILL IN PLAY)
We have fallen below the upward Extra Bullish trend channel i gave you back at the MARCH lows.
It seems rather clean and clear that currently my channel is now acting as Resistance so its still in play so to speak and worth keeping and watching.
When everyone FREAKED out and sold off the crash we really only dropped to EXACTLY the 1st line of support from the October trend.
Which IF you follow me you've had these lines and this chart to use for reference since October and should have been watching for support like i previously stated might come into play soon and you would have been able to grab a nice quick play on just about anything in the sp500 and already sold for scalp profits again.
If we reject fully from this channel that now seems to be R, I'll try buying again on the trend line currently around 4060.
If and when we fall through this support/break support/crash again and everyone loses it. Look for the secondary line I gave you below it to act as a bounce at least is my guess. As that is actually the trend line from the October LOWEST point.
If I'm wrong I'll say so when the time comes but so far these trends have been spot on since last year when i called the downward trend to begin AFTER Turkey day.
Go back and find my charts from there titled something like Turkey or Thanksgiving massacre repeat.
It seems rather clean and clear that currently my channel is now acting as Resistance so its still in play so to speak and worth keeping and watching.
When everyone FREAKED out and sold off the crash we really only dropped to EXACTLY the 1st line of support from the October trend.
Which IF you follow me you've had these lines and this chart to use for reference since October and should have been watching for support like i previously stated might come into play soon and you would have been able to grab a nice quick play on just about anything in the sp500 and already sold for scalp profits again.
If we reject fully from this channel that now seems to be R, I'll try buying again on the trend line currently around 4060.
If and when we fall through this support/break support/crash again and everyone loses it. Look for the secondary line I gave you below it to act as a bounce at least is my guess. As that is actually the trend line from the October LOWEST point.
If I'm wrong I'll say so when the time comes but so far these trends have been spot on since last year when i called the downward trend to begin AFTER Turkey day.
Go back and find my charts from there titled something like Turkey or Thanksgiving massacre repeat.
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