SPY Bounce from here
SPY has broken Current Trend from November 2020 for the first time and is currently at the bottom of the downtrend which has caused for that to happen. Based on the Blue Trendline, we should found support and a temporary bounce back to potentially $444. If we break above that, we would retest the Topside of the Red Downward Channel.
The Yellow Trendlines are additional support and resistance levels that I will also be paying close attention to and support the Blue Trendline Support as well for a short- or complete reversal here.
The Yellow Trendlines are additional support and resistance levels that I will also be paying close attention to and support the Blue Trendline Support as well for a short- or complete reversal here.
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