https://www.youtube.com/watch?v=boLx8_YTiQc
In this video, we consider the latest price action in the SPY using multiple timeframes using the accumulation and distribution indicator for key support and resistance levels. The advantage of this indicator is that it gives us an immediate visual picture of the relative strength or weakness of any particular level or zone. Having this information not only helps with potential entries and exits but also with stop loss, as we are using the market's own established levels.
David also details the new indicators available, which will be launched at the same time as the Stock Trading & Investing Program in the coming weeks. Users who already have the full package of Quantum indicators will be able to access the indicators free of charge.
By Anna Coulling
If you would like details and updates about the Stock Trading & Investing Program, please just sign up here: https://bit.ly/3uCSxf5...
Key support and resistance levels coming into play as the S&P500 and, by extension, the SPY pull back in their journey to test the January 2022 all-time high. As we can see from the chart, the potential pullback was signaled by narrowing spreads on equal volume over three weeks at the $460 level. This level is also reasonably strong, as evidenced by the thickness of the Quantum accumulation and distribution indicator. The indicator increases in size each time the price action touches the level and fails to break through. We can use these levels in a number of different ways, as potential targets, potential areas for reversals (as here), and stop placement as they are created by the market.
Our Stock Trading and Investing Program will be launched in the next few weeks. If you would like more details, please sign up here: https://bit.ly/3uCSxf5
By Anna Coulling
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