SPY Chart: Buy the Dips
Summary
Key Points
Buy in the Green Box:
Support and Stop-Loss:
Invalidation Level:
If SPY breaks below the red line at $510.50, we’re no longer in a bullish cycle.
Upside Potential:
As long as SPY stays above the green zone, it can move toward higher targets.
Simple Plan
1. Wait for SPY to drop into the green box before buying.
2. Avoid selling SPY; it’s better to focus on buying dips in this setup.
3. If SPY goes above the (X) wave, the bearish scenario is invalid.
Key Message
This chart is about staying patient and waiting for the right time to buy. The green box is your chance to get in before the next rally.
Let me know your thoughts in the comments below! 🚀
- The S&P 500 (SPY) is still in a bullish trend.
- This chart focuses on buying dips instead of selling.
- Key buy zone is marked in the green box.
Key Points
Buy in the Green Box:
- This area is where SPY is expected to bounce back.
- Targets are $602.30 and $624.29.
Support and Stop-Loss:
- Stop-Loss: $560.66 – If SPY falls below this, the bullish trend may be invalid.
- Support Zone: Between $563 and $573, as highlighted by Fibonacci levels.
Invalidation Level:
If SPY breaks below the red line at $510.50, we’re no longer in a bullish cycle.
Upside Potential:
As long as SPY stays above the green zone, it can move toward higher targets.
Simple Plan
1. Wait for SPY to drop into the green box before buying.
2. Avoid selling SPY; it’s better to focus on buying dips in this setup.
3. If SPY goes above the (X) wave, the bearish scenario is invalid.
Key Message
This chart is about staying patient and waiting for the right time to buy. The green box is your chance to get in before the next rally.
Let me know your thoughts in the comments below! 🚀
Disclaimer
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