Looks like it will go for a test of its lower band support at around 397.
We may bounce this morning to its previous support (pennant) which is at around 408, if rejected SPY will fall to 397 level.
In order to keep the uptrend intact SPY will have to hold there. If it does, then last impulse to 427 is possible.
We may bounce this morning to its previous support (pennant) which is at around 408, if rejected SPY will fall to 397 level.
In order to keep the uptrend intact SPY will have to hold there. If it does, then last impulse to 427 is possible.
Note
If SPY bounce and gets rejected at around 408, I am going to swing short position
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.