SPY
SPX
hello everyone!
don't be surprised to see a short term relief rally here soon.
we see the SPX is respecting the fib levels on the downside and we are seeing a little pop in the price action
would be nice to see a rally back up to the .236 only to confirm the lower high and dump back down
the selling pressure has been heavy for quite sometime now I don't think it would surprise anyone to see some room to the upside temporarily
what's everyone's thought? i mean this thing could just continue dumping really but i think if there were to be any sort of rally it would be around these levels
just one man opinion. let me know what you think in the comments below.
thank you and happy trading !
Comment:
forgot to mention as you can see I've had a short on the market for a while that has been playing out. I still hold the same price target overall as in my previous trade ideas.