Are we headed back to $396 on SPY... Looks like it to me !

14 במאי 2021

I was able to catch the downside play a couple weeks back and entered mid June puts on Spy based on this chart. I began to notice that each time we broke above the top trend line we ended up pulling back to the 50 ema. Each time there was a recovery to the 20 ema but could not close a candle above the 10 ema and then quickly pulled back to or below the 100 ema. My current target is $396 by early June. Let me know what you think . Thanks !!