SPY ES1! Bearish Charts, but Still maybe just a retest of Lows
Most see this is as a clearly bearish chart, and they're right.
But, we're still in the area where IF we reverse here, it would just look like a successful retest of the lows from last week. My gut tells me sentiment is consensus bearish, so I'm not getting bearish yet.
My trade is to still look for longs, probably on the way up (a break above the downtrend at $282 at least). And with technicals confirming.
But, we're still in the area where IF we reverse here, it would just look like a successful retest of the lows from last week. My gut tells me sentiment is consensus bearish, so I'm not getting bearish yet.
My trade is to still look for longs, probably on the way up (a break above the downtrend at $282 at least). And with technicals confirming.