SPY Looking Bullish
Pros:
- MACD looking to cross into positive territory
- RSI above 50
- KST looks ready to crossover
- Closed above VWAP
Cons:
- End of day selloff volume (see the 1 hour
chart)
- Closed below upper trendline
- Price action contained inside the descending channel
All in all, I'm curious to see if we end up in a controlled sell-off that is likely to accelerate once we get close to the 200 MA.
Very important to watch the market this week.
- MACD looking to cross into positive territory
- RSI above 50
- KST looks ready to crossover
- Closed above VWAP
Cons:
- End of day selloff volume (see the 1 hour
chart)
- Closed below upper trendline
- Price action contained inside the descending channel
All in all, I'm curious to see if we end up in a controlled sell-off that is likely to accelerate once we get close to the 200 MA.
Very important to watch the market this week.
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