Topping patterns are not a single point they are a process.
Have we just seen the top in SPY? The buyers certainly came back upto the close on Friday after the 6% drop in SP500.
Initially TLT also sold off but did catch a bid and strengthened into the 2nd day of the sell off.
There will be a bounce Monday I think will be quiet, Tuesday is when we will see it play out up or down.
Just my musings please do not place any strength on my simple analysis I am at the start of my own finanacial journey.
Have a great weekend.
Trade active
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So a little under 6 weeks down the road and where are we? SPY is down -9.24% TLT is even from the day I posted but we had a -2.44% decline in between.
The catalyst for TLT was the US10Yield peaked again at 3.24% If can work out how to add another chart to this idea I will (help).
I used the SPY as comparison but I do not trade that specific ETF. ETF I am trading in and out of daily: XLK - short XLF - short XLI - short XLU - long XLP - long SHY - long TLT - long