Fib levels are from ATH and 2020 low.
Like I said in my last post, the objective was to get the spy to 390 and they that was completed. Money flow hasn't showed this overbought since Nov 2021 and the aftermath of that was a 2000 point subtraction.
My first target - 200sma or 32640
Second target is - Yellow trendline support or 32k
I don't think they'll break that up trend unless that interests rate decision is hawkish . If it breaks that uptrend we are headed back to 30k fast
Like I said in my last post, the objective was to get the spy to 390 and they that was completed. Money flow hasn't showed this overbought since Nov 2021 and the aftermath of that was a 2000 point subtraction.
My first target - 200sma or 32640
Second target is - Yellow trendline support or 32k
I don't think they'll break that up trend unless that interests rate decision is hawkish . If it breaks that uptrend we are headed back to 30k fast
Comment:
Hit its 200sma and bounced off it today.. Needs to break below that for a leg lower. ENERGY Stocks keeping it propped today
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