An undercut of a prior important low when a market is extended to the downside often turns into a short term reversal; there is no sign of that yet $IWM drops below 2022 low and ⚓️VWAP from 2016 low pic.twitter.com/3wS61XaZnm — Brian Shannon, CMT (@alphatrends) October 27, 2023 Today’s Chart of the Day was shared […]
Chart of the Day – Tuesday, September 26, 2023
If we see a bounce materialize in $SPY in this area I am hoping (market doesn't care) for a bounce to make a lower high and then come down to 420-417 area Year-to-Date AVWAP (blue)200 DMA38.2 retrace of 22 low to 23 highand prior resistance pic.twitter.com/Zqna9452H9 — Brian Shannon, CMT (@alphatrends) September 26, 2023 Today’s […]
Chart of the Day – Monday, September 11, 2023
Keep it simple$SPY WEEKLY uptrenddrill down from there for entries and risk mgt pic.twitter.com/snL2FfAVze — Brian Shannon, CMT (@alphatrends) September 11, 2023 Today’s Chart of the Day was shared by Brian Shannon (@alphatrends). Brain reminds us that the S&P 500 ($SPY) continues to be in a Stage 2 uptrend. In the 1980s, legendary trader Stan […]
Chart of the Day – Monday, April 24th, 2023
busy earnings week pic.twitter.com/iKVINWSLzy — Brian Shannon, CMT (@alphatrends) April 24, 2023 Today’s Chart of the Day was shared by Brian Shannon (@alphatrends). With a busy week of earnings and economic data ahead, Brian points out that the Nasdaq ($QQQ) is testing its VWAP anchored to the November 2021 all-time high. Price has been hugging this […]
Chart of the Day – Monday, April 10th, 2023
#Bitcoin is banging away at the ⚓️VWAP from the all time high. The recent consolidation has occurred as a TIME correction vs a larger PRICE pullback, that is typically bullish The AVWAPs above are the next levels of interest pic.twitter.com/SreJXWLsQC — Brian Shannon, CMT (@alphatrends) April 10, 2023 Today’s Chart of the Day was shared […]
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