SPY set to test support for correction
SPY had an hourly MA crossover (13 EMA/30 SMA) close to end of trading session Monday.
It is now challenging support at $349 and the 50 SMA which have converged.
If SPY breaches $349, the first target is support at $343 and the next one is the previous ATH at $338.
It is now challenging support at $349 and the 50 SMA which have converged.
If SPY breaches $349, the first target is support at $343 and the next one is the previous ATH at $338.
Trade closed: stop reached
Looks like SPY is retesting the previous high again. Putting this idea on hold until it crosses back lower against MAs.
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.
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.