As of right now no reason to believe SPY is gonna flip bullish but these are the scenarios, key levels to watch.
Strong resistance $445 if we can manage to break or gap above (better) i believe we can see some liquidity taken out.
If by some miracle we make it to $445 look for some time of choppy price action , typically this weakens the resistance. If we end the day in that area good chance we gap above it.
support $442 and $440
If we break lower $440 is our next support zone
Strong resistance $445 if we can manage to break or gap above (better) i believe we can see some liquidity taken out.
If by some miracle we make it to $445 look for some time of choppy price action , typically this weakens the resistance. If we end the day in that area good chance we gap above it.
support $442 and $440
If we break lower $440 is our next support zone
Note
we have a nice channel which tells me buyers are in control. Find liquidity. Target upside listedNote
gaps are by far the best confirmation of a break out because it invalidates the sellers if we can jump over them
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.