Big Move Coming on SPY? It is Coiling
The SPY has entered a triangle pattern. This sideways move with tightening ranges often resolves itself with a large move to either side. One can think of it as a spring coiling, or as energy building up.
Of course, being very bearish on the markets as I am, I expect the move to be to the downside. It looks like it should resolve itself sometime this afternoon.
Of course, being very bearish on the markets as I am, I expect the move to be to the downside. It looks like it should resolve itself sometime this afternoon.
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