SPY
Pennant formation at the borderline resistance.
- Resistance at previous level ~388.
- Resistance under the broadening of a triangle (white linings).
- Similar pennant formed previously on 9/12/22.
- Then, next day it drop about $18/-6.3% down.
- Lack of volume and breakout tried but failed.
Tomorrow FOMC speaks, market uncertainties.
Also, Moderna Earnings this week 10/3 Thursday.
Conclusion, possible minor pullback retracements to previous supports.
Not a financial advisor nor a pro/expert trader.
Just for educational purposes.
Comment:
FOMC this Wednesday, 10/2 not tmr mb*
Comment:
Again. Breakout tried & stopped at the boarder line on of the upper broadening triangle side (white line) but still failed and now it’s back to 388.
Comment:
VIX is turning green on support.
Comment:
Fed meeting today and tmr 11/1-11/2.
Comment:
Congrats to those who shorted this morning! The 390 pump false breakout was a great chance. I think it’s going to 382 but not sure when.
Comment:
SPY almost reaching 384 atm
Comment:
SPY reached 383
Trade closed: target reached:
382.67 reached.