TradeAlchemy

SPY - Potential Bearish Week

Singkat
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AMEX:SPY   SPDR S&P 500 ETF TRUST
SPY failed to break the neckline, closed below the 8MA, and no volume or whatsoever. I see this reversing and retesting the bottom support line.
Will the support line hold? With so many upcoming news/ fed rate hikes/rising yield- I believe there is a high probability of SPY breaking the bottom line and work toward the 250 range.
Dagangan aktif:
What a crazy bull trap after the FOMC meeting.

Updates:
Still shorting the market. I see this breaking support and retesting the 200MA with a high possibility of breaking.

Volume is so low on /ES futures support. No more buyers? Time to go lower and test new support to find more buyers.

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