SPY: Reconsolidation
The SPY is reconsolidating again - looks like a another bullish flag. This channel looks cleaner (with more bullish features) than the last consolidation which had a wider band (more volatility) and more balanced characteristics (in terms of candles/volume). I suspect the market is looking for a bullish catalyst (maybe president signing tax/business reforms/tariff deals getting ironed out). Longer 3 month trend remains bullish. Bigger buyer than seller here.
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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.