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UPRIGHTTrading
Jul 29, 2021 10:16 PM

To break-up or to break-down? 

SPDR S&P 500 ETF TRUSTArca

Description


Declining Volume and increasing resistance, but it does look like there could be a pullback if it breaks to the downside. However, long-term uptrend is still very strong. I do think we will continue a little bit higher, before a correction, but could have a pullback in a few days or so.

Comment

I should have been more clear. IMO, we are due for a slight pullback, but as I said, I think we will move higher before a correction. So, I don't think it will break downward yet. Maybe move to around 436 or 435 before a bounce back. However, the reason for the chart is that there certainly could be a break in the trend coming (**see previous triangles). Cheers!
Comments
Icemangold
You have to state your opinion sir!!!
UPRIGHTTrading
@Icemangold, Lol you're right, I should have been more clear. IMO, we are due for a slight pullback, but as I said, I think we will move higher before a correction. So I don't think it will break downward yet. Maybe move to around 436 or 435 before a bounce back. However, the reason for the chart is that there certainly could be a break in the trend coming (see previous triangles).
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