- PROS
- Slightly above average volume
- Bearish Flag
- HUGE Bullish Candle Breaking all eMa's (except for the eMa 100)
- Stochastics and RSI are just above the oversold area.
- Toys/Game/Hobby Sector has a weighted alpha of +26.74
- Weighted Alpha of $EA is +76.8
- CONS
- S&P has not broken above 2020.1 (major resistance level) to confirm a short bullish period
- S&P has been green for to many candles. The market will get tired pretty soon.
- Very unusual market tone. Very volatile.
Commentary:
Major Problem is Market Tone. The Technical and Fundamental aspects of $EA are pretty sound. I would like a small pullback to possibly $67.42 and a weak downward move or consolidating action on the S&P by tomorrow or some time this weak before I enter. Better yet I want to see the market confirm a bullish continuation otherwise this trade is not for me. It might not be wise to go long with the SPX500 set up the way it is but we will see.