SPY close analysis 5/2/2023

82
Bears showed up as per yesterday's confirmation (see related post) and we found support just below 409. That's a bit deeper than I expected today but well within a pullback threshold.

Tomorrow is interest rate decision. It's a total lotto guess where things will go from here: gaps at 405 and 415 both beg to be filled. The initial move will most likely wick into one zone and be the false move with the follow-up real move in the opposite direction. My long term bias is still bullish-leaning into the 420's.

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.