Gurudian

SPY 6.20.20 Forecast

Long
Gurudian Updated   
TVC:SPX   S&P 500 Index
Sentiment: Bear @ Open. Bull @ Close / Will the energy built up over the last few flat days emerge today? Options expire plus dividends payout, Likely.
VWAP is flat but may dip below Bollinger Band at open.
Will watch for a bounce above $312 to confirm Bulls are back in control.
Using the Heikin Ashi candles to spot the trend should a stable one emerge.
If history repeats itself the ticker will eat time off the clock until it runs into the bottom of the Trident 3-Month Bull Trend Line.
At that time, it's either going to bounce off the floor and head higher or drop through the floor because the Bears are too heavy.
If the VWAP stays outside the RSI for more than half the trading day, might want to confirm with the MACD to confirm the down trend strength.
It is the end of the trading week, so Monday might be the day we make the big moves instead of tomorrow.
It's the final countdown, we're at a junction point, so don't blink.
Comment:
Based on the headlines, sounds like they're attributing the drop in the market due to Apple closing stores due to a potential 2nd wave of COVID.
With the possibility there, I would be patient with your trades and do your due diligence on technical analysis prior to execution.
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.