$SPY next-week!
SPY Trade Setup 💡Target Entry: < $577
Position: SPY 574 Puts (Oct 30 Expiry)
Technical Analysis:
Multiple tests of major trendline last week = critical support level
Two potential scenarios:
Trendline Break ⬇️
Expect accelerated downside momentum
Trendline Hold ⬆️
Watch $585.27 as key breakout level
Break above = potential run to new ATHs
Risk Management:
Entry only if price drops below $577
Clear invalidation points at trendline and $585.27
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A1TradeHub
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.