Yesterday's action in the 
SPY is a bullish sign for the overall market. We put in a low around $385 which coincides with the recent head-and-shoulders pattern that had a price target around $380. With futures higher today, there is some room on the chart to $400-404 before encountering more resistance. If this was a temporary bottom, watch the semis and small caps for clues. Putting on more risk vs this level is a good risk/reward strategy for both active and long term investors. 
AAPL reaching $138 and 
MSFT $250 are further confirmations.
SPY is a bullish sign for the overall market. We put in a low around $385 which coincides with the recent head-and-shoulders pattern that had a price target around $380. With futures higher today, there is some room on the chart to $400-404 before encountering more resistance. If this was a temporary bottom, watch the semis and small caps for clues. Putting on more risk vs this level is a good risk/reward strategy for both active and long term investors. AAPL reaching $138 and MSFT $250 are further confirmations. 
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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.