Down we go
SPY approaching key levels, a very high possibility of a sell off incoming.
Recession is almost here.
Recession is almost here.
Note
Job report came out strong today, hence the slight sell off. Strong jobs means green light on rate hikes, which means deflating SPY.Note
So, SPY is forming a beautiful M-shaped reversal pattern, but of course it will not be confirmed until 373 support is taken out.Note
I have reduced my position size by half, it looks like the market is not convinced to sell off. We'll see where we stand following the CPI report.
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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.