SPDR S&P 500 ETF TRUSTUpdated SPY - sell the bounce
The weekly 18ma target is around 433, I think we get there by Friday. I expect another gap down and panic selling tomorrow. Once we reach the weekly 18ma a bounce is expected but I don't expect higher highs at this point. I think a C wave (like the IWM chart below) is now upon us.
Note
Note
the bounce may start here - earlier than I expected, it should be pretty weak except on Tech. Note
QQQ now at support as well Note
IWM at 18ma weekly, this general area should find support although they may panic sell into the close. Note
looks like a bounce has started. i think it will be shallow but it could meander into late august Note
IWM outperforming. Even if there is one more low I think the bounce comes next week. Similar head and shoulders pattern forming here. 
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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.