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SetNameAsJoe
Jan 23, 2019 9:09 PM

SPY MAY GO HIGHER BEFORE RETREATING Short

SPDR S&P 500 ETF TRUSTArca

Description

The ascending wedge over the last few weeks was finally broken, and it was nice to see some retreat. I think this secondary wedge (red lines) may break on the upside tomorrow for some bull rallies. But overall, within the next week I'd say, I think we will see some serious pull backs to the 255 range.

I'm hoping for the pullbacks, but expecting a morning gap or rally. Always be ready to adapt.

THIS IS NOT TRADING ADVICE. I'M NOT A PROFESSIONAL.

Comment

Expecting this to break upwards today and retest the larger wedge.
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