SPY is currently doing a retracement
If we hold above 595 this week we'll start seeing a bounce and still touch that long term goal of $617 area
But if we dont hold that level of 595 this week.
We can keep dropping all the way to 580 area
If we hold above 595 this week we'll start seeing a bounce and still touch that long term goal of $617 area
But if we dont hold that level of 595 this week.
We can keep dropping all the way to 580 area
Trade active
SPY hit $595 target Trade closed: target reached
SPY is still dropping hitting $585 nowWe have a nice confluence here so market can bounce from here if we dont break below this area
Note
As mentioned market can drop that low then if we hold we can bounce hard.Before market close on Friday we witnessed that massive bounce back to 594
If we dont break above 595 we can drop again but if we hold can keep pushing again
My next main TP is 617-625
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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.