SPY - Week Ahead
BUT WHY ISN'T THIS THE BIG ONE??? I'll get to that.
The chart says it all. Biggest question is whether we will bounce before or after making a new hourly low. If so, this confirms a major trend change. Expecting a bounce either way to test 308-310. If there's a bounce without a new low, price could go higher.
If we just cut through all of the support (very unlikely) or just gap it down below 290, then maybe this is the big one. I do not think it will be that easy.
The chart says it all. Biggest question is whether we will bounce before or after making a new hourly low. If so, this confirms a major trend change. Expecting a bounce either way to test 308-310. If there's a bounce without a new low, price could go higher.
If we just cut through all of the support (very unlikely) or just gap it down below 290, then maybe this is the big one. I do not think it will be that easy.
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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.