SPY fake sell off today
If you look at the MACD from previous periods it looks like, comparing to previous MACD bull runs, we are just getting started.
Todays sell of was definitely one to scare off the bulls but we are hitting resistance and going to recover
if you look at the 4 hour MACD we are barely going to flip the MACD to bullish and the AO indicator is already showing signs of bullish movement
Plus we still have to close the gap made right before the drop of Feb 19 around the $330 area
IF there is a real sell off it might be when we hit the $330 level soon or around August
doesnt seem like we are going down any further
Bullish until Q3 and possible $400 SPY by EOY
Todays sell of was definitely one to scare off the bulls but we are hitting resistance and going to recover
if you look at the 4 hour MACD we are barely going to flip the MACD to bullish and the AO indicator is already showing signs of bullish movement
Plus we still have to close the gap made right before the drop of Feb 19 around the $330 area
IF there is a real sell off it might be when we hit the $330 level soon or around August
doesnt seem like we are going down any further
Bullish until Q3 and possible $400 SPY by EOY
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