SPY following its bullish path, watch for resistance
We got some big resistances up ahead at 4000-4100, I think we may be able to reach those levels or at least we can test the upper target I initially placed. I expanded yellow channel and the resistance is drawn in red indicating the overhead.
We can run into horizontal resistance and get stalled by a 75 pt rate hike next wednesday, Overall I don't think we will go bullish for too much longer. I am keeping an eye on the channel to see how it plays out.
Overall we are looking bullish for the short term.
Just my opinion.
We can run into horizontal resistance and get stalled by a 75 pt rate hike next wednesday, Overall I don't think we will go bullish for too much longer. I am keeping an eye on the channel to see how it plays out.
Overall we are looking bullish for the short term.
Just my opinion.
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