SPY, What now?
Updated
After a possible fake breakdown (Feb lows) Spy rallied over 10 points off FOMC today.
It is right now basing below 429.15 / 430 which is a VERY strong resistance. This level has been tested already 4x.
I would like to see some consolidation, preferably a flag/channel, and then another push towards this level . I believe now it will break and we can see 432.
For that to happen, it is important we do not trade lower than 425/424.50
It is right now basing below 429.15 / 430 which is a VERY strong resistance. This level has been tested already 4x.
I would like to see some consolidation, preferably a flag/channel, and then another push towards this level . I believe now it will break and we can see 432.
For that to happen, it is important we do not trade lower than 425/424.50
Comment
Next support level is around 420Lets see if we get a reaction here
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