Good Morning folks.
SPY started moving up from 321 from 2 days ago. So, where is it heading now
One thing to note is SPY went into the cloud and breaking out of the cloud. But, I think it is a fake break out and will go back to Lead Span B of the cloud which is around 315 area. Precisely, SPY may cross the conversion line briefly at 332.40 but will not cross the base line at 340.24 before retracing back to lead span B at 315 area. SPY does not look bullish in short term yet ( base line is above the conversion)
TC2000 Daily SPY Chart Sep 23,2020
QQQ also does not look bullish short term yet. We may see the move to 276 before retracement to 257 area.
TC2000 Daily QQQ Chart Sep 23, 2020
Regarding the picks,
TSLA wants to go to 376 before retracing i feel. It may rise next week to 500.
PTON went below 89 as expected but just opened pre market at 95. Expect this to go to atleast 91.17 support for an entry. Watching it with a hawk eye
AAPL expect another retracement after touching 113-115 area to 101.
AZPN and FND are also looking good.
Wish you a profitable trading day !!!!
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