Sentiment:Neutral
Although a lot of the technical analysis points to overextension in the $SPY. Price action is largely determined by market psychology as well as recent news catalyst. With that being said, I believe we are in a period of greed rn in which many investors don't imagine $Spy coming down due to low interest rates and the numerous pumps done by the Federal Reserve to keep the market strong. However what comes after a period of greed? A period of fear. If your'e taking on positions remember to practice proper risk management and enter small.
Sentiment: Neutral
Reasons: 1. Bullish Catalysts
2.Rising Wedge
3. Decrease in Volume and Increase in Selling Pressure
4. Doji and Hanging Man Formation
Although a lot of the technical analysis points to overextension in the $SPY. Price action is largely determined by market psychology as well as recent news catalyst. With that being said, I believe we are in a period of greed rn in which many investors don't imagine $Spy coming down due to low interest rates and the numerous pumps done by the Federal Reserve to keep the market strong. However what comes after a period of greed? A period of fear. If your'e taking on positions remember to practice proper risk management and enter small.
Sentiment: Neutral
Reasons: 1. Bullish Catalysts
2.Rising Wedge
3. Decrease in Volume and Increase in Selling Pressure
4. Doji and Hanging Man Formation