SPY TURN AROUND OR BEARISH?
The top purple line is a good representation of what happens when it breaks that resistance. The last time it did it was able to reach the 200ma. I don't believe it'll do that in these conditions. I believe it'll take a hard turn back down especially with people taking profits after the huge gap up today. Similar to Mon 12, Sep '22.
I think this rally is a bull trap to get people to buy near resistance before taking a hard turn downwards on unexpected news.
I think this rally is a bull trap to get people to buy near resistance before taking a hard turn downwards on unexpected news.
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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.