The SPY did what I suggested, it broke lower resistance of the ascending triangle, then broke out to the upside, unless I have a bad print, at 1:27 there was huge volume of 10,273,400 shares on a hammer candle. Right now we still have some muted upside momentum but 2/3 1 min 3C charts that were showing this reversal earlier with leading positive divergences have already gone negative. I'm wondering if this move maybe is a long head fake. It's definitely a "Crazy Ivan", clearing the orders piled up on both sides of the pattern and we see that often now as market makers are able to make extra money by increasing volume through hitting stop/limit orders. This is why obvious technical patterns are almost always used against TA practitioners. The TA guys just haven't caught on to the game as they keep doing the same thing.
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