SPY neutral candle up top signaling decreasing momentum. Makes sense considering we hit the 0.5 fib level. Buy/sell ratio dropping a bit also showing that buyers want to pump market but there is going to be a significant amount of selling here. Thinking about a drop to the 0.382 ($262) level again followed by a gap up. Wait until after Monday to see if we complete Abandoned Baby candle pattern signaling momentum towards sell side. If the sellers don't win on Monday, I don't see much in the way of reaching the next fib level to $292.
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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.