The S&P 500 had a correction in August and September that led to a correction back down into the EMA ribbon. I believe that SPY is trending for a strong Q4 and will make progress towards a new all-time high above $477 over the next few months (marked by the green circle). For now I would like to see a bullish bounce off the EMA ribbon.
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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.