The Breakout is still in full swing, but with yesterdays candle i am afraid of upcoming weakness these days.
The RSI is nearly overbouht and SPY is forming a bearish wedge. If SPY would come back to kiss its former breakoutlevel that would be healthy. But SPY should not fall below the former Breakout-Level. Here i see the risk, that we will drop down into the Fibo-Cluster.
The RSI is nearly overbouht and SPY is forming a bearish wedge. If SPY would come back to kiss its former breakoutlevel that would be healthy. But SPY should not fall below the former Breakout-Level. Here i see the risk, that we will drop down into the Fibo-Cluster.
Comment:
hmm..in the shortterm view it seems still to be bullish..
