Broadening wedge pattern on SPY
Updated
dailypriceaction.com/blog/broadening-wedge-pattern/ for information on trading this pattern. Have to hold 294 and consolidate above for bullish case. If 294 fails to hold, look out below!
294 is also the 0.618 Fib retrace from the bottom.
290 - 295 is a magnet for many reasons. I would like to believe we will reach this on April 17th.
294 is also the 0.618 Fib retrace from the bottom.
290 - 295 is a magnet for many reasons. I would like to believe we will reach this on April 17th.
Note
Looks like Monday downward pressure is done. We touched 271 which is 20% off the peak of 339. Bears couldn't get push the market into bear market territory. Bull is too strong. Get ready to ZOOM to 290+ We have been out of bear market territory for many days now. Bulls consolidating.
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