Once again, SPY got rejected at the critical resistance and is going down. Every time it rejected this level previously, it went down at least -0.9% and at most -4.5%. I am expecting it to go down to either 460 or even 456-458 in the next two days. Tomorrow, it might close around 460 and then it might gap down on Tuesday and then we see the recovery either that day or the next due to the earnings.
For those interested in patterns, I see a bearish BATMAN pattern (the last rejection of the resistance was retest of the right ear.
This idea gets invalidated if SPY breaks above and holds 472.
For those interested in patterns, I see a bearish BATMAN pattern (the last rejection of the resistance was retest of the right ear.
This idea gets invalidated if SPY breaks above and holds 472.
Trade closed: target reached:
The minimum target has been reached so this idea is completed successfully.
