We are now forming the handle on the spy that I think will take us back to 470-472 area in the next 2 trading sessions. The white lines are the support and resistance that the handle is trading in. How powerful is a breakout? Just look at what Tesla did today after breaking out of its handle. I think this handle breakout will eventually take us to 485.
XLF has also broke out of its resistance QQQ is forming its own handle.
If we open green tomorrow, watch for any resistance around 478.40 , if we reject, the spy will head back to white support line. If we breakout, its game on..
So I'm bearish short term but bullish after the retest
@lavontakeyamon, Don't catch a falling knife. I think the retest of 464-465 is eminent
UnknownUnicorn32969573
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@alwaysinlearningmode, maybe but i think its too soon to be bearish ... retail has been waiting for a drop ... so the market makers are gone do the opposite ... i think this is a fake out ... market makers are never gone do what everyone is expecting ... they have to make everyone think the bull run is still on so they can sell off ... this correction is long overdue
alwaysinlearningmode
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@lavontakeyamon, I hope you didn't buy calls yet my friend. We are in for retest of 464-465 tomorrow.
UnknownUnicorn32969573
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@alwaysinlearningmode, i bought some for next week ... it may sell off but gaps have to be filled