SPY - S&P500 - Strong Support Right Under 210
There is a "Hidden Support" level that I have published many times here at TradingView and it comes from the large, long term buyers who show up to absorb supply from weak, short-term sellers. The "hidden tracks" that these buyers leave in the market, in this case the SPY (S&P500) revealing their presence is the action of the VIX indicator which retraces 75% of the last 5 point rally.
If you go back and see my other publications on this phenomena, then you can become more familiar with the power of this simple, yet powerful observation.
Cheers.
Tim
If you go back and see my other publications on this phenomena, then you can become more familiar with the power of this simple, yet powerful observation.
Cheers.
Tim
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