- This unsymmetrical head-and-shoulder pattern (SPY) is harder to identify because its shape is asymmetrical shapes.
- Also, it took 8 months to complete (July 2021-Feb 2022).
- Most importantly, SPY comes to a very critical level @430 which is its neckline or final support.
- If it breaks below 430, there is no support until the 321-357 area.
- It could mean a sharp sell-off when breaking down 430.
- Also, it took 8 months to complete (July 2021-Feb 2022).
- Most importantly, SPY comes to a very critical level @430 which is its neckline or final support.
- If it breaks below 430, there is no support until the 321-357 area.
- It could mean a sharp sell-off when breaking down 430.
Note
- SPY gave up 430- Watch out SPY to release all its downside power until 321.
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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.