SPY had broken well below the $525 area, which is one of the levels I consider most important. The break below was brief, despite some volatility and back and forth, bulls are still resilient as they have been all year.
For now, SPY has reclaimed 524 and has filled the gap from Monday. Currently sitting right on that gap and this week's highs. We have an ascending channel it is respecting as well, near the bottom end now. If it breaks below, I would expect a move back to ~525, if it is able to break above this week's high, I think we could see a big squeeze back up to ~542.50.
If 525 gives, next target would be Monday's low and then April's low.
For now, SPY has reclaimed 524 and has filled the gap from Monday. Currently sitting right on that gap and this week's highs. We have an ascending channel it is respecting as well, near the bottom end now. If it breaks below, I would expect a move back to ~525, if it is able to break above this week's high, I think we could see a big squeeze back up to ~542.50.
If 525 gives, next target would be Monday's low and then April's low.
You reap what you sow.
VIP Lifetime Access Program:
ko-fi.com/c/0cb5bf9514
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
VIP Lifetime Access Program:
ko-fi.com/c/0cb5bf9514
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
Publications connexes
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.
You reap what you sow.
VIP Lifetime Access Program:
ko-fi.com/c/0cb5bf9514
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
VIP Lifetime Access Program:
ko-fi.com/c/0cb5bf9514
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
Publications connexes
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.