SPY: Currently Testing the Final Support
Updated
SP500 has broken through several supports this past, coupled with intense market fear and negative sentiment. Last week I alerted the previous support breakout. Puts that were opened on this date have a realized 170% gain.
I believe sustained price levels under this support will signal a continuation of the bear market.
Short positions will be opened after this confirmed breakout. Watch this level.
I believe sustained price levels under this support will signal a continuation of the bear market.
Short positions will be opened after this confirmed breakout. Watch this level.
Comment
As expected we are seeing a temporary consolidation as the bulls/bears fight at this level.I believe price will continue to decrease after this breakout from supply. Expecting increased volatility as we move out of this consolidation pattern.
Puts open trade active.
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