SPDR S&P 500 ETF TRUSTUpdated Key Battleground Spot for S&P
This is a crucial battle in the price action between bulls & bears on the SPY, a close below 426-427 could confirm and Head & Shoulders top, with an increasing risk of falling to 380 in a stage 4 trend.
If 427-428 acts as support and we find sideways price action over the next couple of trading days, it could confirm a short term bottom and we see some recovery towards ATH
IGNORE THE HEADLINES AND TRADE THE CHART
SPY, a close below 426-427 could confirm and Head & Shoulders top, with an increasing risk of falling to 380 in a stage 4 trend. If 427-428 acts as support and we find sideways price action over the next couple of trading days, it could confirm a short term bottom and we see some recovery towards ATH
IGNORE THE HEADLINES AND TRADE THE CHART
Note
Maybe we find support and rally from here, but we appear to still be in a stage 4 down trend with a bearish triangle
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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.