SPY bearish pitchfork analysis
I drew these pitchfork lines before Oct. 15, 2023 when I posted my last SPY idea, titled "SPY: strong bullish pitchfork analysis" (see related idea below). At that time SPY was 427.48. Now it's 470.80. SPY reached the top pitchfork line that I drew back in Oct. 15 last year and is at this time expected to fall further.
Note
SPY broke through, and reached the highest pitchfork line, I now expect SPY to fall. Today it closed at 501.20. Note
Based on my pitchfork setup, I expect SPY to fall to at least ~465 over the next few weeks.
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Related publications
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.