We're all going to DIE!!! Double bottom for the SPY August 31,22

31 août 2022

Sentiment is pretty low here I was counting on a double bottom but I think the sellers need more exhausting before buyer kick in. Just dropped below the $396 which was acting as a support so hoping this doesn't drop, if it does on the longer term on the 4 hour you're looking at as low as $390.50. Just keep in mind the average true range on the daily is $6.50 on the SPY and the top was $6 higher than we are, might not matter so just something to keep in mind. I'm hoping this will bounce and go long but I'm thinking we're about to dump.

31 août 2022

Note

Keep in mind there was a bullish divergence on the stochastic hence why I was hoping for a bounce.