The SPY finally had its long-awaited correction with a 2.12 percent drop last Friday (see reuters.com/article/us-usa-stocks-week/caution-after-wall-street-caps-off-worst-week-in-years-idUSKBN1FN00L).
In this graph, both the yolk and white are based on short and mid term support and resistance levels. I'm expecting the price to travel along the yolk, breaking out through A, and finally breaking through B. In both scenarios I'm expecting a sideways/bearish movement for the next days.
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"Letting losses run is the most serious mistake made by most investors." - William O’Neil
In this graph, both the yolk and white are based on short and mid term support and resistance levels. I'm expecting the price to travel along the yolk, breaking out through A, and finally breaking through B. In both scenarios I'm expecting a sideways/bearish movement for the next days.
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"Letting losses run is the most serious mistake made by most investors." - William O’Neil
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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.