$SPY Bearish scenario Targeting 345 338 325 By end of March
Updated
Bearish candlesticks pattern with upper gap suggest further decline to ichmoku cloud base which should play good support below 350 and possible bounce from there or extend declines to 345 and 338 and even can lead to 325 which is recent base line. Current pattern more similar to Feb.-march or previous year specially with ichmoku clouds. there is clear similarity .BULLISH SCENARIO also possible to bounce on Monday to make new high supported by stimulus headlines and can reach ATH near 404-410 then correct hardly approx.30% correction, who knows :) If we follow trend lines bearish targets can be reached by 2nd-3rd week of March!!
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Hint: Watch RSINote
RSI Signal was too clear to prevent any one to be short or bearish lolRSI/REWARD in favor of strong correction coming any time!
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