Double top -->reversal pattern on $SPY
Why?
14 Green days on SPY!!
One of the longest green day runs on spy in terms of Heikin Ashi candle.
Possible pullback to 331.40 area.
I am not asking for a flood to super lows, just a healthy pullback would be very reasonable.
We could bounce if stimulus talk goes well in the feds.
Trade closed: stop reached
So on Sunday night, Trump scheduled a last minute press conference and talked about executive order for vaccine. Pretty much caused the market to rejoice and gapped above the double top.
More or less, our big short was invalidated once it gaps over, they will probably use the double top as a strong support now.
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If you appreciate my technical analysis and want to check out our
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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.