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SPDR S&P 500 ETF TRUST
Long

10.29.2023 SPY BOUNCE

80
From a valuation perspective, SPY appears to be reasonably priced at 430. In this technical analysis, I'm looking to initiate a position in a rebound opportunity at the 0.5 Fibonacci level, aligning with the three-year trendline and taking into account the RSI reading, which is approaching the 30 threshold, as a confirmation signal.
SPADESASSETS
FibonacciS&P 500 (SPX500)SPDR S&P 500 ETF (SPY) Trend AnalysisTrend Lines

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FibonacciS&P 500 (SPX500)SPDR S&P 500 ETF (SPY) Trend AnalysisTrend Lines
SPADESASSETS

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.