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✔ Friday Market & Charts Report [7-8-22]

Friend July 8, 2022

✔ Friday Market & Charts Report [7-8-22] Video Review

First 30-Minutes SPY opened up with an inside day below the 50sma and above the T-Line on the daily chart. The 15-minute candle opened below the T-Line and the Trendicator on the 15-minute chart. The overall daily trend is still down with price below the 50sma. The short-term trend is slightly bullish, with price above the T-Line.

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When considering a chart for a trade, it might be helpful to look at conditions to help with the final decision. I have found at least 3-5 conditions must be met. Possible conditions: Is the trend in your favor for the chart you are considering? Is the market trend in your favor? Is support or resistance in your favor? Is the T-Line and price in your favor? Is the Trendicator in your favor? Is there enough room to make money? Are your indicators confirming? Does the risk & reward make sense?

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