- Three of the past four days $SPY made higher highs and higher lows. Friday slightly missed a higher high but the day’s volume was the lowest this year. This is bullish.
- $SPY is above the 50 day, this is bullish.
- The 5 day ema crossed over the 10 day sma last week. Bullish.
- Thursday had a bullish MACD crossover.
- Thursday had a bullish reversal candlestick after the ECB announcement that closed at the highs of the day.
- RSI is in the bullish half of the reading at 53.60
- The MACD Histogram turned positive and bullish on Friday.
- The $QQQ chart is showing equity bullishness and risk on after four days of higher highs and higher lows.
- Leading stocks and sectors are currently showing reversal patterns and bounces after corrections. $XLE $FB $XLF $GOOGL #Bullish
- A close below the 50 day negates these bullish signals and will put me back in a neutral reading for my trading model.
(I am currently long $SPXL $TQQQ and $SPY from Wednesday at close entries. This was tweeted in real time at @SJosephBurns )