When will SPY Bottom?
Here is my thesis:
If we could potentially retest the 360 area then I believe a head and shoulder breakout is possible and could be the potential bottom… but again we want confirmation.
If price action can break above 30MA and pullback that will also indicate a reversal and maybe a potential bottom…
If you look closely at 2022 price action, every breakout of 30MA has been rejected in the following weeks… so this will be a fundamental level to watch.
Have a great day fam.
If we could potentially retest the 360 area then I believe a head and shoulder breakout is possible and could be the potential bottom… but again we want confirmation.
If price action can break above 30MA and pullback that will also indicate a reversal and maybe a potential bottom…
If you look closely at 2022 price action, every breakout of 30MA has been rejected in the following weeks… so this will be a fundamental level to watch.
Have a great day fam.
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