V-Bottom Charts, That’s What I Like To See

hotfortheteacher

vbottomcharts

 

I was saying in the chat room at the start of the week, that I would like to see a 'V' bottom before initiating  any long positions.  We may be at that point. I'd like to see $SPY break firmly above $159 and Friday's highs.  From there I fully expect a move to $SPY $163, which we could be looking at a possible trade for more downside.  Stay tuned.  For now I like the market here.

Profile photo of uranium-pinto-beansKnown to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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