Possible head and shoulders bottom forming, but I'm cautious.
This is the 15 minute chart for the SPY. The CICO Report is set to 48 or 12 hours((48x15)/60), this is painting the chart red, grey and green. The CICO report shows constant selling for the last 3 days, you can see this by the large red pool forming. However, the end of trading today showed a lot of buying volume. Pay attention to the 375 price action during trading tomorrow. If 375 is not respected as support, 350 becomes the next visible support in my view.
Check out the Cash in/Cash out report, free open source here on tradingview.com. If the indicator helps you make or save money, please give it a like and post the success stories! I want to turn this indicator into an app, I need your feedback!
Check out the Cash in/Cash out report, free open source here on tradingview.com. If the indicator helps you make or save money, please give it a like and post the success stories! I want to turn this indicator into an app, I need your feedback!
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.