BATS:SPY   SPDR S&P 500 ETF
121 1 0
If we hit $155.22 which I suspect we will, we could pop to the .382./.5 extension at 159.00-160.00. The .618/.782 extension is 161ish to 162. These would just be retracement levels on a continuing downtrend. Although if we blow the .618 extension on the bullish bat then the up trend will remain. Of course this all depends on the bullish bat playing out. Another sceneio I see is us bouncing at the .886 extension (160.84). If this occurs we could see this form a bearish bat. Bearish bats at the top of a chart show trend change. Especially ones that form a double top. Things look quite bearish as of right now so the bearish bat might not play out. It is some good food for thought though. Tomorrow will tell how it will go. happy trading!
climbing_stars
3 years ago
snapshot
So it looks like the bearish bat idea then eh??
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