Closed up at 2 resistance points and was the main reason for the drag on XLY sector. Closed up with a dark cloud cover pattern which indicates a reversal pattern. Tomorrow will confirm or negate this pattern.
If amazon does a bearish reversal then 86$ gap close is my target.
If amazon breaks over resistance then my bullish target would be 105 gap resistance .
The bigger picture though is a falling wedge, which is a bullish pattern but we could head for one more leg down before the move out
If amazon does a bearish reversal then 86$ gap close is my target.
If amazon breaks over resistance then my bullish target would be 105 gap resistance .
The bigger picture though is a falling wedge, which is a bullish pattern but we could head for one more leg down before the move out
Next target is 90 gap close.
XLY is looks extremely bearish.. most tech is up on NFLX news... as long as QQQ holds under 280 we can expect more selling