abigreen

SPY can go either way

AMEX:SPY   SPDR S&P 500 ETF TRUST
164 views
6
Im bearish , but looking at the chart its clear SPY has formed a Pennant , which in this setup is more bullish .
Look where it goes in the morning session, braking upwards or downwards will dictate the direction.
Key level to watch for bears is 377 and for longs 380
Comment:
Comment: 373.90 is first target (Gap up)
If that doesn hold then Next is 365

Happy bearing friends ;)
Comment: bulls bought the dip and its above 377 , which is not good.
Where are the bears ?

Comments

It’s broken down but has regained to about the same price as when you posted. Would you be more bearish with that said? Every sell picking up bid quickly.
+1 Reply
abigreen pstvjb09
@pstvjb09 buy the dip mentality is still strong, 0 fear.
Reply
pstvjb09 abigreen
@abigreen, yeah, one of these days the train is going to fall off the rails though and nobody is going to want to buy that dip.
+1 Reply
abigreen pstvjb09
@pstvjb09 the question for traders is when. the answer I guess is when Feds stops filling the the gaps.
they already tested the ground, we've seen 2 pullbacks.
they may continue doing so until mid 21 and beyond
Reply
pstvjb09 abigreen
@abigreen, fascinating way to look at those big dumps. Thank you! Never thought of it that way.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out