Dow Jones and IWM are both showing a similar setup here (See link) We could rally monday with our first target 453.70 (Whiteline). If spy breaks above then we are head back to channel resistance around 458-459. Let's see what happens..
Side note
QQQ has found temporary support. MSFT and Amzn are both outside their bbands. Spy will tech to dump to continue lower.
IWM and DJI both showed 3 black crows coming into this week which foretold a nasty drop on the 4th week which we received. However the 5th week is usually a "suckers rally" week in which there is usually a significant bounce and then in the 6th week we continue to sell
Side note
QQQ has found temporary support. MSFT and Amzn are both outside their bbands. Spy will tech to dump to continue lower.
IWM and DJI both showed 3 black crows coming into this week which foretold a nasty drop on the 4th week which we received. However the 5th week is usually a "suckers rally" week in which there is usually a significant bounce and then in the 6th week we continue to sell
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IWM update
ContraryTrader
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