Spyweekly
Short/medium term Bearish thesisSeptember 28th Resistance/support will intersect and we will see downwards movement into new territory.
The risk vs reward for shorting is much greater than going long at the moment.
Short term Bearish/neutral
Medium term Bearish
Long term Bullish
I believe we are setting up another Jan 2018 OR OCT 2018.
Red arrows indicating heavy resistance
Red Arrows resistance
Blue diagnal line - current downwards trend
White line- Major resistance
Red line - resistance
Orange line - weaker resistance
Green line - March - september bullish trend.
Green line intersects with white line on a catalyst day (fed speaking).
We are now in a trend reversal, but need to keep an eye on these levels.
SPY Weekly look. A bounce of key technicals but still beary$SPY Weekly look is kinda bearish.
It has bounced off key technical indicators but it is pretty bearish. The repeat patterns are just too eerir.
We might just see more range trading like the past 84 weeks(Highlighted yellow) minus to the dips (highlighted red)
What do you guys think?