Indice S&P 500Short
SPY- Retrace Complete
Back Testing Ascending Channel.
Running into Horizontal Resistance
At the resistance of Spy Tops ( Light Blue)
With the Market Cycle Conditions and seeing the confluence of resistance all coming int at this area, I would say that this bounce is all but played out. I would expect to see the selling to resume shortly. When we do reverse I would expect us to hit 274 on the next selling spree.
If this resistance does not hold then I would expect the next resistance to hold, which would be the inner channel resistance (light green)
Running into Horizontal Resistance
At the resistance of Spy Tops ( Light Blue)
With the Market Cycle Conditions and seeing the confluence of resistance all coming int at this area, I would say that this bounce is all but played out. I would expect to see the selling to resume shortly. When we do reverse I would expect us to hit 274 on the next selling spree.
If this resistance does not hold then I would expect the next resistance to hold, which would be the inner channel resistance (light green)
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.