Hourly Charts SPY and QQQ

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Hourly Charts SPY and QQQ

Market recap August 23 daily and hourly charts in live trade room.

SPY Daily Chart

The chart is showing a repetitive pattern, noted in the boxes, for the top and a pullback on the daily chart for $SPY.  Price has broken the bullish trendline and is showing the sellers in control here.  In June we had a golden cross where the 50MA  crosses the 200MA.  Looks like price wants to challenge the 200MA again and maybe a move to previous swing lows.

QQQ Hourly Chart

We see a lower high with a potential for forming a head and shoulders. We are in an uptrend but we are testing the bullish trend line. If we break the trend line, watch for it to go to support and if this doesn’t hold, we could get a move to the previous swing lows.

SPY Hourly Chart

We see a lower high and it looks like it may challenge the support. And if it is broken, look for it to close the gap on the lower support. Take note of the volume of sellers entering the marketplace.

Market recap August 23, not a trade suggestion.  Manage your own risk.  Never listen to others and if you don’t know what you are doing, consult your investment adviser.

 

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Hourly Charts SPY and QQQ

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Live Trade Room Watch List August 22, 2019

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Live Trade Room Watch List August 22, 2019

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Live Trade Room Watch List August 22, 2019

Live Trade Room Watch List August 22, 2019

This is August trading with lower volume and sometimes extended range days.  Could take a few more days for trades to hold their support. Take your time here as tweets have been moving this market.  The pull back and forth between Trump and the FED are moving the markets almost daily.  It doesn’t look like the FED is going to acquiesce to Trumps pressure to drop rates to keep in line with other central banks.  We shall see.  Always trade with a stop and a target.

Watch list August 22 CYBR day trading set up.

CYBR has bounced off of support, has a higher low and volume is consistent at this point.  Watch for a red to green move on the open.

Watch list August 22, MDB set up:

After a big run up today and about a $10 range, watching for a slight pull back and keep this direction.  Higher low on this with a target around the 50MA.  Watch for a volume increase into the weekend.

Watch list August 22,Reste ZM set up for day trading

ZM is bouncing off of support watching for this to gain support at the closing levels, wait for this to reverse for a clear entry.

Trade at your own risk, remember only you can be responsible for your trades.  Refer to the Money Makers Edge™ traders code if in doubt.

 

 

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Gold trading and Dollar index who will lead?

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