Head and shoulders on the SPY hourly Short

SPDR S&P 500 ETF TRUSTArca

Description

⋅ Jul 21, 2021 4:42 PM

Watching the SPY on the hourly and it appears to be in a H&S pattern at the moment.

Bull above 440
Bear below 429

Bull - US10Y goes above the 200 MA, less bond buying and DELTA variant isn't an issue

BEAR: Delta variant, inflation, US10Y drops below 200 MA

Comment

⋅ Jul 22, 2021 1:40 PM

July 22, 2021 08:30 AM ET (BZ Newswire) -- News
USA Initial Jobless Claims for Jul 16 419.000 thousand vs 350.000 thousand consensus estimate. The prior reading was 360.000 thousand.
Copyright © 2021 Benzinga (BZ Newswire, benzinga.com/licensing). Benzinga does not provide investmentadvice. All rights reserved. Write to editorial@Benzinga.com with any questions about this content. Subscribe to Benzinga Pro (pro.benzinga.com).

Comments

Simon1988

⋅ Jul 22, 2021 1:40 PM

Update

Orcishruler

⋅ Jul 21, 2021 5:35 PM

100% Agree