This is what I have charted up for the short time frame of things for SPY
I am expecting a test of support trend line at 475.68. From there i am looking to see if we will break the support or if we will bounce again to test the upper trend line resistance at 478.55
Even if we do get a retest of the UPPER trendline, I anticipate that the lower support to be taken out and we will begin a BEARISH trend, down to $462.18, with minor supports at 470.83, 468.04, 462.20 and possibly 456.15 and 451.17. These last two are extremes. If they are taken out, we are looking at a higher time frame correction and a larger move down
None the less, i will be analyzing at these supports for a possible, nice BTFD opportunity
I am expecting a test of support trend line at 475.68. From there i am looking to see if we will break the support or if we will bounce again to test the upper trend line resistance at 478.55
Even if we do get a retest of the UPPER trendline, I anticipate that the lower support to be taken out and we will begin a BEARISH trend, down to $462.18, with minor supports at 470.83, 468.04, 462.20 and possibly 456.15 and 451.17. These last two are extremes. If they are taken out, we are looking at a higher time frame correction and a larger move down
None the less, i will be analyzing at these supports for a possible, nice BTFD opportunity
PG13
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.
PG13
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.