Free: The 1 Hour Chart SPY QQQ Pattern To Watch
Free: The 1 Hour Chart SPY QQQ Pattern To Watch
Free To Read
Good evening everyone,
Well… we did not have black Monday (no market crash today)!
In this publication we will go over:
1 Hour Chart Pattern To Watch On SPY 0.00%↑ QQQ 0.00%↑
**This is free to read. We will issue a morning briefing/ plan for our paid readers in the pre-market tomorrow***
Our Reports published over the weekend are still 100% valid going into tomorrow so make sure to check them out!
What In The Hell Happened Today?
As we mentioned in our substack paid members-only discord room, the price was a magnet to the 50 day moving average!
See⬇
I called price action a magnet to the 50-day moving average this morning in discord so our readers were aware of this.⬇️
️So What Now?
After a large move to the downside Friday, volume was high today but, the price range was tighter than anticipated.
This shows us there is a battle going on bulls vs bears and therefore, we have to remain very open-minded as the price can go either direction here.
As we mentioned in our market breadth segment last night, probabilities are stacked to the downside and a pullback would be healthy from here but, we have to be OPEN MINDED because…
SEPTEMBER IS A BIG MONTH
CPI
FOMC
We do not know if they will hold the market until these events take place or possibly see a rally before these events.
In the past, we have seen rallies going into key events such as the FOMC so we have to keep that in the back of our minds.
Many people act like they know what the market should do but, this is a key principle I teach:
It is not about what we know that makes us good traders, it is how we deal with what we do NOT know that allows us to be good traders!
This is why we must remain without bias and focus on price action.
SPY 0.00%↑ QQQ 0.00%↑ KEY PATTERN TO WATCH
We want the charts to develop a bit more but, taking a glance at the 1-hour chart you can almost make an argument that it is a bear flag forming.
I would pay attention to this pattern as a breakdown below the bottom trendline could lead to supply/sellers coming to the market. As well as a breakout above the top resistance line!
This is the KEY to watch tomorrow! (See charts below for reference)
Make sure to check our paid plan here, and if you are on our paid plans. We will issue content for you in the pre-market so make sure to download the substack app so you do not miss it when we publish it.
DISCLAIMER: Lusso’s News LLC offers no guarantees and provides forward looking statements with intentions and sole purpose to satisfy the reader/viewer by offering only personal enjoyment and personal entertainment. If at any time a Security is purchased that is discussed at Lusso’s News, LLC on a written article, post, newsletter or comment, you agree to hold Lussosnews.Com liability free and harmless. There are no guarantees in participating in Financial Markets and full investment can be fully lossed at any time. Lusso’s News, LLC never guarantees and never offers recommendations. The company will not be responsible for any loss or damage that occurs. Anyone at Lusso’s News, LLC may be buying or selling any stock mentioned at any given time. FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. Any Lusso’s News, LLC Service and product offered is for educational and informational purposes only and should NOT be construed as a securities-related offer or solicitation, or be relied upon as personalized investment advice. Lusso’s News, LLC recommends you consult a licensed or registered professional before making any investment decision as you could lose your full investment at any given time as this is not a “risk-free” industry. If you do agree to this, then please exit our website now. No Refunds at any time.LUSSO’S NEWS, LLC IS NOT AN INVESTMENT ADVISOR OR REGISTERED BROKER. Both, Lusso’s News, LLC nor any of its owners or employees are registered as a securities broker-dealer, broker, investment advisor (IA), or IA representative with the U.S. Securities and Exchange Commission, any state securities regulatory authority, or any self-regulatory organization. We do NOT give out advice, this is intended to be ONLY a publication for information and education. THE ABOVE POWERHOUSE REPORT INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND DISCLAIMER. OUR REPORT IS FOR INFORMATION PURPOSES ONLY AND IS NOT BUY OR SELL INVESTMENT OR TRADE ADVICE. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED AND FULL RISK APPLIES OF LOSING MONEY ON A TRADE. OUR WRITERS AND TRADERS ARE NOT LICENSED OR FINANCIAL ADVISORS.