SPY 4 Hour Rising Wedge
Sentiment:Neutral
Although a lot of the technical analysis points to overextension in the SPY. Price action is largely determined by market psychology as well as recent news catalyst. With that being said, I believe we are in a period of greed rn in which many investors don't imagine
SPY coming down due to low interest rates and the numerous pumps done by the Federal Reserve to keep the market strong. However what comes after a period of greed? A period of fear. If your'e taking on positions remember to practice proper risk management and enter small.
Sentiment: Neutral
Reasons: 1. Bullish Catalysts
2.Rising Wedge
3. Decrease in Volume and Increase in Selling Pressure
4. Doji and Hanging Man Formation
Although a lot of the technical analysis points to overextension in the SPY. Price action is largely determined by market psychology as well as recent news catalyst. With that being said, I believe we are in a period of greed rn in which many investors don't imagine
SPY coming down due to low interest rates and the numerous pumps done by the Federal Reserve to keep the market strong. However what comes after a period of greed? A period of fear. If your'e taking on positions remember to practice proper risk management and enter small.Sentiment: Neutral
Reasons: 1. Bullish Catalysts
2.Rising Wedge
3. Decrease in Volume and Increase in Selling Pressure
4. Doji and Hanging Man Formation
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