Im seeing a possible move to the upside on SPY here the purple is a fib extension drawn from 322 to 380, the 1.68 fib extension level and top of the weekly trendline would match up to give us a price of around 420. Then if that is extension resistance we would now pull a fib retrace from 420 to the previous low of 322 and find the next buy retracement which would be the proposed "crash low" on the orange fib. To me looks like if this does retrace after the suggested high we will see a bounce within the channel and the 200ma that would be near there at a price around 345. Now if this support would to break things would get interesting.
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.
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.