DrStool

Well despite the fact that they sawed off the limb I was out on, somebody has to be the voice of reason. Saw SPY calls as a hedge against something like this when it broke out above 2850. New benchmark to roll em up would be 2930.

The 10 year yield has double topped at 3.095 and is pulling back.

Next R line is 2930. Then the moon.

They're punching at the upper channel line.

5 day pulls back to 2933-35

3 day cycle projection 2928. Short term uptrend channel resistance 2925.

5 day cycle projection 2940.

Breakout 5 day cycle projection 2928. 2 day 2922.

We have a shot here. It should have launched by now.

If they can't launch from here, watch for 2905 to break. That would be a good sign for bears. 2903 better. Below 2900 and it could be off to the ski slope.

Tried and failed to break down. The pattern is very bullish at this point.

Clearing 2914 would put the 5 day cycle projection at 2936. Bears need a stop here.

Clearing 2912 would look like a breakout, but there's a trendline convergence at 2913.50 that's an obstacle. If cleared, room to run to a channel line at 2922.

A drop below 2903 could break that. Probably need sub 2900 to be sure.