It's not looking great.
Even though there is an RSI divergence, SPY has been in a descending channel since the beginning of March. It tested the channel's resistance line a few times and failed to breakthrough.
Tomorrow it might test it again, depending on the direction of the futures.
If it fails, $233 is highly likely, if not worse.
Even though there is an RSI divergence, SPY has been in a descending channel since the beginning of March. It tested the channel's resistance line a few times and failed to breakthrough.
Tomorrow it might test it again, depending on the direction of the futures.
If it fails, $233 is highly likely, if not worse.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.