SPY Critical position
If you read my last idea on SPY the recent Bull rally does not come in as a surprise. With the being said it appears the spy is at a critical level, in the trend, what happens today could determine the fate of the spy for the short term and possibly long term. Will the bull rally continue? If we look at the chart the higher price action is being achieved with lower then normal daily volume average, which shows us the state of liquidity in the markets now. My best guess is that higher price action without meaningful volume is unsustainable. Also keep in mind that FOMC meeting next week could also serve as a bear catalyst potentially. Traders be cautions, best of luck to all.
This is not financial advice, this is just my personal idea.
This is not financial advice, this is just my personal idea.
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