Good Morning folks.
SPY , In premarket, is moving towards 336-337.44 ( flat line resistance) as expected. However, It is still below the cloud. Does it have an other leg down to 320-318 support. Lets wait and see. I would like SPY to see above the cloud to be bullish.
QQQ is also reaching 276 which is Lead Span A and flat line resistance at 277.
One thing to note in SPY and QQQ is that Lead Span B is above Lead Span A in the daily charts for this week and we see the Lead Span A crossing over Lead Span B in the coming week which is a good sign that the market may turn bullish from next week. For this week, Will QQQ have one more leg down to 266 and 259.99 flat line resistance? Lets see if QQQ behaves as expected.
ZBRA reported earnings today and shot above the flat line resistance of 294 to 305. It has potential of going above 310. However, I would wait for ZBRA price to touch the flat line around 294 area for an entry
CROX is second day above the flat line 52.48 in the premarket today and is at 54.88 at the time of writing this post. It has potential of going to 56.80. A good entry would be to get it as close to the flat line for good profit margins.
Have a profitable trading day !!!
Ichimoku is extensively used in the technical analysis described above. TC2000 is used as the charting tool.