SPDR S&P 500 ETF TRUSTUpdated SPY monthly - counter trend rally with a bearish bias
Market rallied nicely for the past several weeks but from long term perspective, it is not a buy until a higher high breakout.
Note
About to break out of the box to the upside, but still needs to be confirmed. Still be cautious as MACD and RSI are not confirming.Note
back into the box. RSI and MACD still bearish looking.Note
Safely to say it is out of the box and on the rise. The plan for this year is going to buy any dip around 10 month moving average, until technicals become unsupportive, like monthly MA turning down, RSI below 50, MACD negative, etc.
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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.