Yogigolf

Spy at A likely area to bounce

Long
AMEX:SPY   SPDR S&P 500 ETF TRUST
I believe the larger bottom is in although it could still be a slow recovery. Right now it appears we are at a reasonable support level at the trend line and 50dma. There also looks like what could be a inverse head and shoulders forming. While I’m not a huge fan of relying on these patterns a measured move could lead to 500-520 if it confirms.
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.