Narusik

SPY losing momentum 30m

Short
AMEX:SPY   SPDR S&P 500 ETF TRUST
Happy day for all my swing trades out there! :) Now we see finished the day at a key level as we ultimately are on a sloppy downtrend. I expect to see a move downwards by our SPY friend back into support levels around the 384.50 mark. This support level has been tried many times now which may seem as a reliable bounce level, but we gotta remember it just means this floor is being weakened everytime. SMA20/50 are to stay under the 200 for bit longer. If we break down we can expect to see 378 soon. Stay safe and strap up B)

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.