SPY 1D - Potential Paths This Week
SPY quickly broke out of its downtrend and even broke out above a bear flag that had been forming. We had a low volume week last week, but SPY closed strong, pushing all the way back up to $520. It's wild to look at where SPY is now considering what the market was like just a few weeks ago. Bears get squeezed once again.
I have a lot of suspicions about this rally, so I'll mostly be sitting on hands until after CPI. Anything could happen this week, but this is a bullish chart for now. Only things that are concerning for bulls are the low volume and the last daily candle from Friday being a gravestone doji.
I have a lot of suspicions about this rally, so I'll mostly be sitting on hands until after CPI. Anything could happen this week, but this is a bullish chart for now. Only things that are concerning for bulls are the low volume and the last daily candle from Friday being a gravestone doji.
You reap what you sow.
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
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