$SPY Bear Fake or Storm Clouds?
There is so much bearish & bullish activity/indicators within the S&P index right now.
The TA can be confusing at these times. I have been pump faked 3 times at these prior fib ratios - just saying this next one could be the one however I will wait for confirmation before I go guns blazing into a short.
You can see in this chart below how it is moving 1 standDev away from the sma consistently for about two months now. I would anticipate this to normalize soon and when it does it will fall out of that upper wedge.
Here is a clean view of just the fibs
Just on the sidelines myself as I don't want to go long unless this thing is at 2830 nor do I want to short prior to confirmation.
The TA can be confusing at these times. I have been pump faked 3 times at these prior fib ratios - just saying this next one could be the one however I will wait for confirmation before I go guns blazing into a short.
- Moving Averages look bullish
- MACD can still be bullish for awhile longer
- RSI looks very overbought
You can see in this chart below how it is moving 1 standDev away from the sma consistently for about two months now. I would anticipate this to normalize soon and when it does it will fall out of that upper wedge.
Here is a clean view of just the fibs
Just on the sidelines myself as I don't want to go long unless this thing is at 2830 nor do I want to short prior to confirmation.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.