Zooming in on SPY
Zooming in a bit, I added some lines where I felt they belonged.
I wonder if we will break out of the rounding top I have drawn or if we will break this channel. The market always surprises me.
In My Opinion, I feel that there will be a lot of tepidly good news coming out to try and keep the market up, but once the rate hikes are in we start to drop. many companies are under their 200 EMA and mostly tech giants have propped up the index.
actable good news on covid could always take us to the upside.
These are just my opinions.
I wonder if we will break out of the rounding top I have drawn or if we will break this channel. The market always surprises me.
In My Opinion, I feel that there will be a lot of tepidly good news coming out to try and keep the market up, but once the rate hikes are in we start to drop. many companies are under their 200 EMA and mostly tech giants have propped up the index.
actable good news on covid could always take us to the upside.
These are just my opinions.
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