Get started
BryantBarzola

SPY waiting to fill FVG

Short
SPDR S&P 500 ETF TRUST (AMEX:SPY)  
BryantBarzola Updated   
AMEX:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Trend Lines Support and Resistance
1
4
trendanalysis trendline supportandresistance
SPY just hit resistance after a price displacement and now we must fill this gap in order to continue. We may need the CPI as a catalyst to breakout from these levels.
Comment:
This consolidation between the noted support and resistance looks likely to breakout above the 386 levels.
Comment:
Consolidation broke out as expected and but there are many FVG created. I believe we have to retest these levels. Specially the new FVG created above the resistance line. We must not forget the bigger time frames have a bearish trend.

Taking profit and entering short term puts might be a good protection against next weeks volatility from CPI.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.