DOW vs SPY... Slightly different POINT of INFLECTION - MUST SEE
Hi all - I wanted to point out that the DOW is slightly lagging in relative position to the SPY in relation to the inflection points from the August, Sept, Oct pattern that started the Q4 bull run in both.
We can see that:
1. SPY has ALREADY REACHED the first inflection point in relation to the the August, Sept, Oct pattern that started the Q4 bull run in both.
2. DOW is APPROACHING the August, Sept, Oct pattern that started the Q4 bull run in both.
What does this mean:
Some traders closely follow all three majors (SPY NASDAQ DOW)... but some choose one to follow.
While SPY attempts to remount $285, DOW is APPROACHING $25k. This difference in alignment may add to the uncertainty at this inflection point going into the week of April 20th!
Keep eyes on the level on both charts so you can avoid getting chopped out (regardless of your bias long or short).
Thank you to the trading community for taking the time to view my perspective on the charts!
Be well - xeenos trading
We can see that:
1. SPY has ALREADY REACHED the first inflection point in relation to the the August, Sept, Oct pattern that started the Q4 bull run in both.
2. DOW is APPROACHING the August, Sept, Oct pattern that started the Q4 bull run in both.
What does this mean:
Some traders closely follow all three majors (SPY NASDAQ DOW)... but some choose one to follow.
While SPY attempts to remount $285, DOW is APPROACHING $25k. This difference in alignment may add to the uncertainty at this inflection point going into the week of April 20th!
Keep eyes on the level on both charts so you can avoid getting chopped out (regardless of your bias long or short).
Thank you to the trading community for taking the time to view my perspective on the charts!
Be well - xeenos trading