The failure to hold the opening levels was disappointing but not out of the ordinary for a quarterly options expiration. The little bull flag turned into a rectangle. Rectangles are consolidation patterns that are neutral and can last awhile. SPY (and DIA) are weak compared to IWM for a change. QQQ had a decent week,… Continue reading 6/19/20 A Miscellaneous End to the Week
Day: June 19, 2020
A Cute Bull Flag and a Pop
SPY Daily The three day formation from June 16 through June 18 is a pretty bull flag. SPY bounced off a test of the 18 day moving average on June 16 and successfully turned around a probe yesterday. The bottom on June 18 occurred early in the day, and it was easy to get in.… Continue reading A Cute Bull Flag and a Pop
