The 3 Key Resistance Levels $SPY $INDU $QQQ


With the stock market bouncing off the lows for a second time,  price is now back to key moving average resistance levels in all major indexes. If we can close over these key resistance levels, then the uptrend to new all time highs is back in play. The $INDU $QQQ and $SPY short term resistance is the 50 day simple moving average on the current chart.   … [Read more...]

10 Bullish Chart Facts on $SPY


$SPY had a Bullish engulfing candlestick reversal Friday. Generally, the larger the white candlestick and the greater the engulfing, the more bullish the reversal. $SPY had a bullish MACD crossover Friday. $SPY closed above the 5 day EMA and traded for three days above it's 5 day EMA. $SPY is at the top of a 9 day trading range, and if it breaks out, it could rally to the … [Read more...]

10 Facts About the $IWM Chart


 $IWM has closed lower than the previous day 9 out of the last 10 days. This is bearish. Wednesday's rally was rejected Thursday. This is bearish. The MACD is under a big bearish cross. $IWM did have a reversal candle today, but it failed to close over yesterday's high of day. $IWM is down -8.9% year to date, just slightly out of correction range. $IWM failed to hold … [Read more...]

10 Signs a Market is in a Downtrend

Tony Allen-Mills

                A market is trading under it's 200 day simple moving average. A market is trading under it's 5 day exponential moving average. The MACD has made a bearish crossover. The daily chart's RSI is under 50. A chart has made lower highs and lower lows for three straight days. You are seeing … [Read more...]

Why Bear Markets Steamroll Bulls

bear tractor

Having a bull mindset in a bear market is not profitable. Bear markets have no long term support, they can make lower lows for a long time. Buying pullbacks is not profitable in bear markets because pullbacks turn into downtrends, and old support becomes the new resistance.  Buying dips stops working. Bulls end up getting trapped at higher price levels, unable to profit … [Read more...]