SPY forecast thru Aug 5
Updated
Time frame continuity with 15m, hourly, and daily. We're playing inside monthly and quarterly. For now, expecting a pullback to 390 to complete the broadening formation that started Friday. If it finds support there, a quick trip back up to 400 to re-test and print higher highs. If this structure breaks down quickly, expect a quick movement to the low side (green buy zone). Otherwise, expect a nice leisurely drawdown over the next two weeks.
Note
If we close July with an inside month, expect bullish price action to kick us up to 420 plus.Note
Incoming. Let's see how she holds. Note
Single bar bounce. We're heading to the green buy zone. Should close today <389. Note
Might find some buyers at 389. That falling wedge support gave quite a kick last two times we touched it.
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