APosner

Not taking the buy signal on $SPY

BATS:SPY   SPDR S&P 500 ETF
57 0 0
I received a buy signal on Friday on SPY             but thought better of taking it. As you can see on the renko chart the stochastic is nearly at the point of rolling over and the MACD histogram is shrinking. Both of these indicators tell me the rally is preparing to pause and sell off. How far this selloff will run I can't predict now but opening a new position here seems very risky to me.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out