After retracing 50% from the low and getting bulls excited with a break of the resistance line, $SPY is back into the down channel.
This week was an outside week and the pattern is similar to that traced out in Sep 12 week.
If the Sep 12 week pattern plays out expect a brutal 4 week decline of about 11% to below 2022 low.
Not investment advice.
This week was an outside week and the pattern is similar to that traced out in Sep 12 week.
If the Sep 12 week pattern plays out expect a brutal 4 week decline of about 11% to below 2022 low.
Not investment advice.