SPY forming a descending wedge after an extreme sell off, one of the fastest declines in recent history.
This wedge style pattern tends to be the result of sharp move in a particular direction, in this case downward as temporary relief before continuiing in the direction of the larger trend.
Ill be looking for liquidity to enter the market on the thursday / friday session for a potential bounce. If not, then its likely the market will be in for a rough spring.
This wedge style pattern tends to be the result of sharp move in a particular direction, in this case downward as temporary relief before continuiing in the direction of the larger trend.
Ill be looking for liquidity to enter the market on the thursday / friday session for a potential bounce. If not, then its likely the market will be in for a rough spring.
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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.