Right now SPY is testing 1st Support level on the Fibonacci Pivot, and stochastic (15,3,3) is giving a sell signal and becoming more oversold. If the current support doesn't hold, SPY could be headed towards 196.12. Also the last 2 candles were bearish engulfing. If tomorrows candle is also a bearish engulfing candle, that would form a 3 black crows pattern which is very bearish. As well the MACD is starting to turn negative after previously indicating a possible reversal.
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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.