WaisTrades

Will 2021 Bottoms Trend Line Hold?

AMEX:SPY   SPDR S&P 500 ETF TRUST
Since the beginning of they year we have seen 4 corrections and they have held a consistent upwards trend line so far. Today we approach this trend line as well as the 50day Moving Average. I am not recommending any long positions as there could be wicks that could blow past the trend line like seen in March. I am looking for a solid day closing in the green and close above the trend line before I slowly getting back into any long positions.

Also be aware if we close below this trend line as it could signal a much bigger correction.
Comment: Bounce and Double Bounce!

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