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SPDR S&P 500 ETF TRUST

$SPY : Waiting for a catalyst

243
SPY was perking up yeserday morning but finshed down -0.68% as afternoon sellers overwhelmed.

ES futures are again higher by 38 handles as of now. However, the pattern has been higher in the morning and sell-off in the afternoon for the past 5 out of 7 days.

Economic conditions are dismal. FED has injected massive liquidity and fresh addition of liquidity can be the catalyst to propel SPY higher.

Broader range is 280-293 while narrower range is 284-288. Going with the break when it happens.
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Chart PatternsesfuturesSPDR S&P 500 ETF (SPY) Trend Analysis

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Chart PatternsesfuturesSPDR S&P 500 ETF (SPY) Trend Analysis
insyyte
Also on:

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.