Looking at SPY vs. HIBS (3X High Beta BEAR)- very interesting to see in comparison- here are my takeaways:
1- Look at the volume trends....(SPY volume trendline excludes sell of during island top)
2- Look at formation of the ascending/descending triangles....
3- Is the island top formed in SPY the beginning of the bear trend?
4- SPY-- IF we close ABOVE the $323.89 level then we will continue on up (DEFYING ALL LOGIC), but if we break below the ascending trendline then we are headed DOWNNNNNN
Overall takeaway- I believe that the existing bull run is exhausting but it is still too soon to confirm this- I believe between now and the first week of July we'll have our answer so keep your eyes close on not only the charts but FED/COVID news that may strongly shift market sentiment.
1- Look at the volume trends....(SPY volume trendline excludes sell of during island top)
2- Look at formation of the ascending/descending triangles....
3- Is the island top formed in SPY the beginning of the bear trend?
4- SPY-- IF we close ABOVE the $323.89 level then we will continue on up (DEFYING ALL LOGIC), but if we break below the ascending trendline then we are headed DOWNNNNNN
Overall takeaway- I believe that the existing bull run is exhausting but it is still too soon to confirm this- I believe between now and the first week of July we'll have our answer so keep your eyes close on not only the charts but FED/COVID news that may strongly shift market sentiment.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.