SPY sitting around support area and 50 DMA
I was expecting a move lower on indexes as we were way over extended.
I see support with .618 Fib level $447 , 50 DMA = $453 and the weekly time frame trendline is in this area.
Also, we have a left shoulder and head formed, so watch out for right shoulder to form. (right shoulder should be higher than left, so a retest of 458-460 area.)
FOMC is on Dec 15th, so we might rally here and then see what JPow has for the markets.
I picked up NEM (Gold miner) as seasonality play last week, so not going long any stocks yet. GL!
I see support with .618 Fib level $447 , 50 DMA = $453 and the weekly time frame trendline is in this area.
Also, we have a left shoulder and head formed, so watch out for right shoulder to form. (right shoulder should be higher than left, so a retest of 458-460 area.)
FOMC is on Dec 15th, so we might rally here and then see what JPow has for the markets.
I picked up NEM (Gold miner) as seasonality play last week, so not going long any stocks yet. GL!
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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.