Analysis of $SPY

18 בינו׳ 2023

The next couple trading sessions are important as they should dictate the direction we will be heading. Currently we are retesting resistance. If we can get a break and close above the resistance trend line with a confirmation bar to follow, then I would be comfortable saying we may have a short term rally clearing the $410 price mark. If we turn lower than I would be concerned with the $380 price area. A significant break below that area would tell me we may be retesting the low set on Oct 13th. Either way I will be watching and updating charts on the way. Happy Trading to everyone.SPY