This is rare, SPY is currently near the 200 week moving average. The 200 week moving average for SPY and QQQ has been a very reliable indicator since 2011. Similar to my other idea I posted regarding NQ/QQQ, it is possible that SPY could bottom around this area. If not, we could see a sharp drop through it as many institutions buy the 200 week MA and may close their long positions if it doesn't hold.
Yeah, and SPX and NDX are also testing their -2SD of their monthly Bollinger Bands (which happen rarely, and has provided the support for some bottoms).
Nothing_trading
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I guess I missed out on a lot of good stuff, because I usually use TradingLive or Youtube to watch live streams, not TradingView.
slatermaus
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Fell through on the tech bubble and the housing bubble, so as long as this isn't another popping bubble?
trader-123456
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Tiger_Style
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Let's hope we dont see a repeat of the price action back in January when it crashed through the 200 DMA...