SPY: Gas in the tank or running on empty?
Updated
quickPost:
SPY
Just wanted to post some quick speculation on SPY. Watching the spy that was interesting because just when you think you know exactly what is going to do it tends to do something else. At the moment SPY is on the rebound from a particularly harsh selloff- But at this point, it's recovered almost all of its losses and is crushing through resistance.
At this point, it really does look like I can go anyway so I've got ahead and plotted my short thoughts and prediction on the bullish and the bearish scenario. Upcoming earnings could mean that the SPY is about to get a little bit more gas in the tank - however, considering the fact that AAPL & FB sold off after earnings it is possible that this series of earnings will lead to more selloffs of already somewhat overbought equities.
Either way, I've got the sense a much larger move in is the cards...
[myceliium]
SPYJust wanted to post some quick speculation on SPY. Watching the spy that was interesting because just when you think you know exactly what is going to do it tends to do something else. At the moment SPY is on the rebound from a particularly harsh selloff- But at this point, it's recovered almost all of its losses and is crushing through resistance.
At this point, it really does look like I can go anyway so I've got ahead and plotted my short thoughts and prediction on the bullish and the bearish scenario. Upcoming earnings could mean that the SPY is about to get a little bit more gas in the tank - however, considering the fact that AAPL & FB sold off after earnings it is possible that this series of earnings will lead to more selloffs of already somewhat overbought equities.
Either way, I've got the sense a much larger move in is the cards...
[myceliium]
Note
Switched candles (HA > Hollow) and realized SPY is just going for the gap fill ...
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