All indices were up yesterday Oct 16, 2018 hoping for a run on good earnings and no bad news for yesterday. But futures were down today, could see a little drop today. 📊
bounced off 200SMA which acts as a support now and broke thru 150EMA & 6EMA. Reaching the bearish P-SAR, may see a reversal on P-SAR (Bullish), 6EMA starts to turn/point up and next to break out is 100EMA. BB standard deviation is also far apart, so could give a good run up now. 📈
bounced off 200SMA & lower BB, and broke out 150EMA & 6EMA but was resisted by 100EMA. P-SAR going reversal to bullish and could give a good run up. Next should give 150EMA a chance to support the price and can gradually go up. 6EMA pointing up but still need to break out 100EMA and/or support the price also. 📈
bounced off 150EMA and broke out 100EMA & 6EMA. However P-SAR is still quite far from the price and it needs to test 150EMA or 6EMA as support to consider a strong bounce and slowly bring the price up also. Still close to lower BB but upper BB has a lot more distance from the 2S.D. Of 20MA. Could retrace back 150 first before rallying up. 📈
A lot of Asian indices were up following yesterday US indices rally but Asian indices still got room to run before a clear trend reversal. Good to see Asian indices coming back up but need to hold again. US futures were red for now.