SPY formed 2 diamond patterns as seen in this hourly chart. It formed slight RSI positive divergence near the Oct low. However, this divergence may still get lower to reach 3500, an impt Fibonacci level, more so if the CPI report come out higher tomorrow.
Weekly wma 200 still the line in the sand.
The next major catalysts this week are Thursday”s CPI data & bank earnings. Start of earnings season will
usher in more volatility next week due to the fear of earnings recession.
Not trading advice
Weekly wma 200 still the line in the sand.
The next major catalysts this week are Thursday”s CPI data & bank earnings. Start of earnings season will
usher in more volatility next week due to the fear of earnings recession.
Not trading advice
Note
Market dumped & pumped today which is not unusual for Diamond patterns.
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.
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.