SPY relief rally continuing
Continuing update on my last post. We did breakout of the daily chart downward channel with confirmation on May 26. I think we might continue to go up for the next three to four weeks.
A few notes in the chart:
• We built a solid bottom near $388 in the last 2-3 weeks.
• Confirmed breakout of downward channel on May 26.
• May CPI release on June 10 8:30 AM.
• Inflation seems to peak and sentiment is improving.
A few notes in the chart:
• We built a solid bottom near $388 in the last 2-3 weeks.
• Confirmed breakout of downward channel on May 26.
• May CPI release on June 10 8:30 AM.
• Inflation seems to peak and sentiment is improving.
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