Will SPY hold 3500, a 50% Fib level from pandemic low to ATH?SPY as of today, like in the 2009 parallel in my post before this, also had a daily deathcross. Then price made a June low at 3636, bounced up to retest dma200(wma50) but was also rejected similar to 2009. SPY also gave up all gains & even broke below the June low.
Twinkle of HOPE: if entailment this week changes to positive, It is still possible that SPY may make a slightly lower low at around 3500 to create the divergence for an oversold bounce. 3500 happens to be the Fib 0.5 retracement from the pandemic low to January ATH.
BEARISH CASE: if 3500 will not hold, then the 312 to 320 zone will be the next support at Fib 0.618. Further waterfall will see 3000 & 2800 specially if wma50 crosses down wma200 (deathcross). Then probably the midterm election rally into new year.
Not trading advice. Proceed with extreme caution!
STA
Update on the key supports to watch for the S&PDisclaimer:
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Copper - where are we from a technical perspective?Disclaimer:
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STA | Super Powerful 3-DRIVE Harmonic Pattern-1st break 36 weekSTA | Thailand SET Index | Agricultural Sector | Price Action & Chart Pattern Trading - The 1st Breakout
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> Entry @ Breakout Zone to confirm the reversal pattern
> RSI, MACD bullish crossing signal line
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THAILAND SET: STA - EXPECT TURNAROUND TP - 47.00 | STOP LOVE 30> STA has successfully received a hemp cultivation license from the FDA.
> On an experimental plot with a total area of 5 rai in Lampang Province To sell all seeds, leaves and roots obtained from planting to customers as agreed upon by contract.
> DIGITAL TRACEABILITY: Proactively make a difference by applying Digital Traceability principles to every produce from the farm. The source of seeds can be monitored and viewed digitally in real time. Hoping to build new businesses to strengthen the Sri Trang Group.
> VOLUME PROFILE: Retracing back to main volume profile - 47.50
> TARGET PRICE: The first target price to break EMA200 at 37.00.
> RISK: LOWER RUBBER FUTURE PRICE CONTINUED.