McGuireTO

SPY consolidation remains healthy, eyes on the hourly chart

AMEX:SPY   SPDR S&P 500 ETF TRUST
Watching for an hourly trend change to indicate our new daily temporary bottom is in. Bulls will try to hold 274 tomorrow and break resistance, if we lose 274 we'll look to find a new support level and try it again
Bullish into next week?
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@ZenMode, SPY has broken 2 daily supports this week so we're cautious here. When the hourly trend changes, we're going to be looking for a daily lower high below 281 and the pullback from there will be telling. But that is at least several days away. First step is to get the hourly trend to change, likely tomorrow or Monday
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top notch sir
+2 Reply
@MrKaz, Appreciate the feedback
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