Just posting a quick update as the SPY is looking even more bearish after closing on Friday with a spinning top reversal pattern on the weekly timeframe- the markets have been overextended for quite some time, technicals are bearish on almost every timeframe- Some FIB levels and RSI-based supply and demand zones to keep an eye on-
- Bearish Megaphone Formed - Bearish ABCD Harmonic Pattern Formed - Spinning Top Candlestick Pattern Formed on the Weekly Timeframe (Bearish Reversal Pattern, See Attached Chart Below) - Bearish Butterfly Harmonic Pattern Also Formed on the 4-Hour Timeframe (Not Pictured) - Buyer Volume Drying Up - Bearish Hidden divergence on the RSI - Also way in Overbought Territory
Weekly Timeframe
Previously Charted [url=
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Some levels to watch based on today's price action on the SPY- 📌 $472.18 📌 $471.68 📌 $469.24 📌 $468.50 📌 $467.60
$472.18
$471.68
$469.24
$468.50
$467.60