S&P 500 Sell Off Into Possible Bear Market - Sunday Stock Talk
SPY (S&P 500 ETF)
Support at 281 because of previous resistance and the 200 day moving average.
Resistance at 294 because of previous resistance.
Price action is looking to be range bound between the support and resistance while it forms a triangle.
Looking for the triangle breakout below the support of 281 to move back down to the 273 support or for the triangle to breakout above the resistance of 294 to move back up to the all time high resistance.
Predicting that SPY breakout to the downside because of the previous downtrend since the all time high. Trends tend to continue after periods of consolidation.
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Support at 281 because of previous resistance and the 200 day moving average.
Resistance at 294 because of previous resistance.
Price action is looking to be range bound between the support and resistance while it forms a triangle.
Looking for the triangle breakout below the support of 281 to move back down to the 273 support or for the triangle to breakout above the resistance of 294 to move back up to the all time high resistance.
Predicting that SPY breakout to the downside because of the previous downtrend since the all time high. Trends tend to continue after periods of consolidation.
Want to learn more or watch this analysis on Youtube, then follow me on Youtube and Instagram at The Impeccable Investor.