SPY is currently forming a common W pattern, which occurs more often in the midst of a bear market or a transitory stage of the market. Its also currently trading within a wedge on the hourly chart pictured below.
See also the 15 minute chart, and the wedge it may break soon.
The chart indicates multiple bullish influences, and I will be long SPY this upcoming week.
See also the 15 minute chart, and the wedge it may break soon.
The chart indicates multiple bullish influences, and I will be long SPY this upcoming week.
