dylanmojo

SPY gap down intraday analysis and possible scenarios.

Short
AMEX:SPY   SPDR S&P 500 ETF TRUST
SPY sellers have been in control since March 29, and today finally hammered the SPY down below a significant support daily chart support level - finding support at the AVWAP drawn off of the March 15th Fed rate hike. I believe the support level that was gapped below today will be tested as resistance in the near future. If it fails off of that support level , I'd expect the SPY to go down and test support at the AVWAP drawn off of the beginning 2021.

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