Looking at the 60min chart, and the broader daily cycle, we look pretty much maxed out for this wave. The 1390/95 zone continues to hold as resistance...just. Interestingly, the 10MA @ 1390 on the Sp'500 cycle appears to be slowly levelling out.
sp'60min
For the bears...patience...and good stops will be key into the rest of today.
*a reminder, look to AMZN earnings at the close. I'm expecting a 'surprise' miss. Their profit margins are lousy, it won't take much for them to go negative.
More later..on this sleepy Thursday afternoon.
sp'60min
For the bears...patience...and good stops will be key into the rest of today.
*a reminder, look to AMZN earnings at the close. I'm expecting a 'surprise' miss. Their profit margins are lousy, it won't take much for them to go negative.
More later..on this sleepy Thursday afternoon.
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