UNSEEN SPY Bearish Volume MONTHLY
I just checked SPY on the monthly using volume profile based opacity....
Apparently, we've never closed a month with the 3rd volume profile.
That being said, 2 days into June and we already have this profile...
```
avrg = ta.sma(volume, 14)
vol down 1 = volume > avrg * 1.5 and redCandle //1 aka solid red
vol down 2 = volume >= avrg * 0.5 and volume <= avrg * 1.5 and redCandle // 50% half red
vol down 3 = volume < avrg * 0.5 and redCandle // 90% transparent red
```
It's too early to tell, but June could very well prove to be the most bearish month in known history (trading view history) or optimistically, the last leg down.
However, given macro level economics such as the Ukraine conflict, the impending food shortages, Chinese drills near Taiwan and the overall strengthening of the chinese-russian alliance it seems unlikely to see a significant monthly reversal.
Even with the reopening of chinese manufacturing, the recent aggressive military display by china should be seen as extremely bearish as it is likely to start a global world war fought on two fronts...
Good luck bullz... you are going to need it...
Apparently, we've never closed a month with the 3rd volume profile.
That being said, 2 days into June and we already have this profile...
```
avrg = ta.sma(volume, 14)
vol down 1 = volume > avrg * 1.5 and redCandle //1 aka solid red
vol down 2 = volume >= avrg * 0.5 and volume <= avrg * 1.5 and redCandle // 50% half red
vol down 3 = volume < avrg * 0.5 and redCandle // 90% transparent red
```
It's too early to tell, but June could very well prove to be the most bearish month in known history (trading view history) or optimistically, the last leg down.
However, given macro level economics such as the Ukraine conflict, the impending food shortages, Chinese drills near Taiwan and the overall strengthening of the chinese-russian alliance it seems unlikely to see a significant monthly reversal.
Even with the reopening of chinese manufacturing, the recent aggressive military display by china should be seen as extremely bearish as it is likely to start a global world war fought on two fronts...
Good luck bullz... you are going to need it...
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