S&P 500, FAANG and Nasdaq
S&P 500 back above the 21 day EMA, but moving towards resistance zone at the top of the range and 50 day MA. Phase B of the developing base (see resources thread on the forum for examples of the Wyckoff Phases)
Are the FAANG stocks setting up for a potential Stage 2 continuation breakout.
They've built a big cause during the Stage 3 range which projects 30-40% higher "if" it makes a new Stage 2 breakout.
Nasdaq Composite still in Stage 2B (which is late in the Stage 2) but has held support from the prior range so far and is still above the 30 week MA.
S&P 500 is also in Stage 2B and so far holding above it's 30 week MA
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.