SPY is breaching below a short-term daily downward trend at a significantly investor-interested zone.
The dark gold region represents a highly trafficked zone of interest during the greater part of the first of the year. After a rather short testing period around mid-May, the market drove higher before return to a short-term downtrend.
Now breaking below that trend (orange line), investors are faced with a choice to support the levels of earlier this year, or flee to safety.
The dark gold region represents a highly trafficked zone of interest during the greater part of the first of the year. After a rather short testing period around mid-May, the market drove higher before return to a short-term downtrend.
Now breaking below that trend (orange line), investors are faced with a choice to support the levels of earlier this year, or flee to safety.
Note
Upon hitting the peak of the daily volume profile (approx. $411.60), buyer's stormed in to support their early-to-mid 2023 levels. SPY has since recovered half of it's losses.Note
Heading back down into dark orange...
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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.