Todopoderoso

Spy monthly view using renko

Long
AMEX:SPY   SPDR S&P 500 ETF TRUST
Using the traditional renko 2 blocks shows the monthly support trendline back from march 2009 lows and 2020 lows conected line shows there is support at around 380 level which could act as support. there could be a relief pullback to around 430 or so or not or it could just keep going to retest 380 but as long as that holds it could be a long entry opportunity . should the monthly close below that then it could risk just going to 330 . This is not a trading advise just observation good luck.
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