$SPX has been trapped in a Noise Box for the past 14 days
As at other times patience pays: whichever side SPX breaks out of the box will be followed by a big move
A great trading opportunity
👁️👁️Volume has been higher on bullish days and SPX closed above 20DMA
#SPX #ES $SPY
We should look at the indices that have led the recent moves up and down: $DJI, $IWM, $DJT, #S5TH.
The #DJI has a more defined Noise Box. It broke out of it last Friday, and did so on higher volume, closing above 50DMA and 20DMA. Bullish, DJI should continue up on Monday
$SPX
$DJT has as $DJI a more defined Noise Box. It broke out of it yesterday in higher volume, closing above 20DMA, and like $SPX rigth at the 50DMA
The general look of this chart is bullish short term, so a continuation rally is on the menu for next week
#DJT #XTN #DJI #DowJones
$IWM is lagging somehow
It came out of the Noise Box, and volume has been higher on bullish days, but we need to see more strength here to favor near-term bullish expectations
#IWM #Russell #SPX $SPX $SPY #trading #options
#smallcap #RTY $RUT #ES
#S5TH
The $SPX stocks above 200DMA Index found support for many days on 50DMA
On Friday, it closed back the very important 50% level and the April 2021 trendline
This supports the idea of #SPX breaking above the Noise Box. Bullish
#ES $SPY #ES #Trading #options #futures #SPY
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