SPY Correction Continues

25 במרץ 2018

Welcome traders, to my technical analysis of the SPY!! I'll keep this short and simple, as we can see SPY has completed a double top and has now broken through it's previous bottom of 264.83 and looks to be aiming to test the bottom of the correction we just had. If we break that bottom we could continue to see a downward trend, however on the other hand if we get a bounce off of it and a break through our red trend line to the right with enough volume we could see some upward movement. At this point in time we are in full bearish mode with the MACD still showing it strong. Until we see that break expect to see bearish activity among the SPY and those such as AAPL and AMZN moving forward. Until the next one, signing off.