When will SPY Bottom?
Here is my thesis:
If we could potentially retest the 360 area then I believe a head and shoulder breakout is possible and could be the potential bottom… but again we want confirmation.
If price action can break above 30MA and pullback that will also indicate a reversal and maybe a potential bottom…
If you look closely at 2022 price action, every breakout of 30MA has been rejected in the following weeks… so this will be a fundamental level to watch.
Have a great day fam.
If we could potentially retest the 360 area then I believe a head and shoulder breakout is possible and could be the potential bottom… but again we want confirmation.
If price action can break above 30MA and pullback that will also indicate a reversal and maybe a potential bottom…
If you look closely at 2022 price action, every breakout of 30MA has been rejected in the following weeks… so this will be a fundamental level to watch.
Have a great day fam.
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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.