Time For Bears To Feast? $SPY Heading to $385 By Feb. 10th.
It seems like it's following the same pattern as the past two rallies. If you look closely, each time it rallied, the volume was declining and same is happening with the current rally as well. The first rally hit the bottom trendline in 36 days, the second rally hit the bottom trendline in 18 days (in exactly half the amount of days it took the first one to touch the trendline) and if the algos are following similar pattern we should see $385 by second week of Feb. Close above $405 invalidates this probability for me.
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.