From the recent high the SPY has declined in a clear ABC elliott wave pattern. Two impulse waves separated by a triangle of near equality strongly suggest that it is a counter trend move and once over, new high is in the card. I am confident about that but my confidence ends right here. This counter trend move might not be over, etc. The only point I am trying to make here is even if we are overbought and the rally is showing sign of exhaustion, it is not over yet
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.
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.