SPY - Bullish Divergence on the Fear and Greed Index
Fear and Greed Index just formed a double bottom.
Yesterday's price bottom was right in the middle of:
1. The 38.2 fib retracement from bottom to top
2. The 100% fib extension from the top to the most recent swing high
The wedge is only broken by a wick on the weekly chart.
Anticipating a lower high being set at a highest target around the upper trend line of the wedge and then lower from there.
Yesterday's price bottom was right in the middle of:
1. The 38.2 fib retracement from bottom to top
2. The 100% fib extension from the top to the most recent swing high
The wedge is only broken by a wick on the weekly chart.
Anticipating a lower high being set at a highest target around the upper trend line of the wedge and then lower from there.
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.