SPY is going absolutely insane with the bull move since COVID low
- A huge rising wedge on 3M chart had a overthrow bull break, hopefully it doesnt do similar to what GOLDSILVER ratio did. Also had a massive MACRO rising wedge, with bull break overthrown and now has collapsed since
- Also a 3M RSI is at the possibility of double top at 75 and contination of bearish divergence
- This will be Key for bears to put a stop to and line up a few TA's for more folowthru if it were to happen
- Things to keep in mind is that we are having unprecedented printing of money so is the FED/GOVT more likely to allow inflation/hyperinflation or to let the stock market collapse? Inflation seems more likely given the political situation in the country. However huge spikes down may happen before FED has a reaction to it? Crazy times
- A huge rising wedge on 3M chart had a overthrow bull break, hopefully it doesnt do similar to what GOLDSILVER ratio did. Also had a massive MACRO rising wedge, with bull break overthrown and now has collapsed since
- Also a 3M RSI is at the possibility of double top at 75 and contination of bearish divergence
- This will be Key for bears to put a stop to and line up a few TA's for more folowthru if it were to happen
- Things to keep in mind is that we are having unprecedented printing of money so is the FED/GOVT more likely to allow inflation/hyperinflation or to let the stock market collapse? Inflation seems more likely given the political situation in the country. However huge spikes down may happen before FED has a reaction to it? Crazy times
Stop loss in
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.
Stop loss in
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.