SPY Back to All Time Highs or Bull Trap?
Currently in down trend from Sept 13 455 high.
We are at a crucial resistance level in the upper range of channel.
Would like to see price above 440 for upside. Looking for under 427 for downside.
MACD showing higher gains in momentum from the start of October.
Money Flow Index Is at a crucial level 70 which we see many price areas surrounding MFI level.
Also MFI showing divergence in Lower lows in price, while MFI maintaining higher lows. This is shown in blue line.
We are at a crucial resistance level in the upper range of channel.
Would like to see price above 440 for upside. Looking for under 427 for downside.
MACD showing higher gains in momentum from the start of October.
Money Flow Index Is at a crucial level 70 which we see many price areas surrounding MFI level.
Also MFI showing divergence in Lower lows in price, while MFI maintaining higher lows. This is shown in blue line.
Comment:
Looks to retest 443