sandman8917

Long SPY - The Justification

Long
SP:SPX   S&P 500 Index
This is a short term trade. Up to 3 days. Probably not longer for me.

-Hourly Trend is bullish
-Gap closed, followed by bullish engulfing candle
-We appear to have found support on the 786 fib retracement from the high set in September 2018. Why not go for all time high again?
-trend line drawn from major tops suggest we create another all time high before a big drop
- Daily RSI has room to run higher another few time possibly to create a wide and bumpy top


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