SPY reached the middle (red) of the pitchfork line which is a likely point of bounce (and it already bounced off a bit from the line). On the higher end SPY reached the same width of the pitchfork channel (a little over). The red circles show the top and the bottom.
Comment:
I closed my position (not SPY, I had OXY and USO both with nice profit) for the very short term but for longer term I'm still bullish on SPY (which is now 387.15, when I posted my idea it was 378.06).
Comment:
I reopened LONG market position a bit earlier (BULZ at 4.64 and then 4.59).
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