SPY is currently forming a common W pattern, which occurs more often in the midst of a bear market or a transitory stage of the market. Its also currently trading within a wedge on the hourly chart pictured below.
https://www.tradingview.com/x/wimufgb1/
See also the 15 minute chart, and the wedge it may break soon.
https://www.tradingview.com/x/F2JceeCb/
The chart indicates multiple bullish influences, and I will be long SPY this upcoming week.
https://www.tradingview.com/x/wimufgb1/
See also the 15 minute chart, and the wedge it may break soon.
https://www.tradingview.com/x/F2JceeCb/
The chart indicates multiple bullish influences, and I will be long SPY this upcoming week.
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Related publications
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.