S&P 500 Index (SPY) Still Not Too Low!

16 במרץ 2020

I noticed that some traders and investors have already started buying spy on discount assuming that the market has finally found its bottom.
BUT
Look at a daily chart:
key 2330 level still is not reached!

I still believe that the market can go lower and at least the underlined level will be tested, and who knows, pullback and next wave to the downside.

too early to change bias, folks. pay attention to inside bar formation on daily and look for a side of a breakout.
then act accordingly.

+ if you are still short biased, sell from the candle open of the last mother's bar. perfect trend continuation entry!

good luck!