SPY Backtesting channel - Short term Bearish bias
Looks as though SPY fell out of it's channel and is testing it as resistance.
- Hit 61.8% retrace from the Covid dump
- Selling volume increasing, price and oscillators rolling over towards bearish
- broken though support channel structure, testing if bulls will fight back in
Technicals are pointing to a dip, fundamentals are pointing to a dump, offset by how fast Blackstone can spend the Fed's printer money.
Not advice in any way, do your own research
- Hit 61.8% retrace from the Covid dump
- Selling volume increasing, price and oscillators rolling over towards bearish
- broken though support channel structure, testing if bulls will fight back in
Technicals are pointing to a dip, fundamentals are pointing to a dump, offset by how fast Blackstone can spend the Fed's printer money.
Not advice in any way, do your own research
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.