SPY BULL TRAP
The 3rd week of January is normally the start of profit taking, so if you’re long be careful out there remember sell into strength. This could be a bull trap, tomorrow’s close is very important if we end the day above the trend line it will show a lot of strength and the risk on buyers will step in. This week is slow on news nothing really happens till Thursday GDP and PCE on Friday. So patience is needed in this type of environment don’t let FOMO kick in there’s plenty of opportunities to come.
As always trade what’s in front of you good luck
As always trade what’s in front of you good luck
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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.
Related publications
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.