SPY IS STILL BULLISH FEDS
Updated
You can see there was an inverse head and shoulder with a rising neckline. This pattern indicated we were going to have a breakout to the upside. The feds however decided that they wanted to bring the interest rates up from 0. This broke the pattern and the support zone. In my opinion compared to the past the prices are holding on the trend line pretty well for being so close to a resistance zone. Give it a MONTH. we will be on a new ATH possibly a breakout. That or a complete crash. no in between! I'm staying bullish though.
Note
Interest rates shouldn't make the market crash.. right?
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