SPY Bullish if we stay above 332
SPY has formed a triple bottom.
If we maintain 332 we could go higher from here. Probably choppy trading at this level. Bull case if above the 20-day, at 338.
If we slide under 332, then the bears win this round, and we could drop back to test 310 (200-day SMA on the daily).
Keep an on QQQ, it hit the 50-day SMA on the daily (like the 50-day). The tech sector has been over-valued and needed to come back to the 50-day SMA.
If we maintain 332 we could go higher from here. Probably choppy trading at this level. Bull case if above the 20-day, at 338.
If we slide under 332, then the bears win this round, and we could drop back to test 310 (200-day SMA on the daily).
Keep an on QQQ, it hit the 50-day SMA on the daily (like the 50-day). The tech sector has been over-valued and needed to come back to the 50-day SMA.
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.