SPY is moving into a distribution zone, which will likely result in resistance and a dip back towards recently established (fib) support levels. This establishes a new DTL support line that takes us through existing DTL resistance, and back into the next chop zone for more consolidation before either regaining ATH's, or re-testing lows.
Note
Still in line with forecast. Seeking 270 this week before consolidating underneath for a bigger run.Note
This has been almost spot on to date.
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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.