BitcoinMedusa

$SPY Downward Bearish Trap III

AMEX:SPY   SPDR S&P 500 ETF
554 4 2
Calling out the $SPY is like calling out the wisdom of the wild. Thus leashing this beast is no easy task for any trader. But, you must start somewhere and a GAP fill is just as good as any. If you have any comments on my charts I welcome the conversation and challenge that your observations bring to the platform. Sincerely, Beauty
I hear the argument for a triple top. I agree we are in a correction, however might take another week for US markets to top out.
Also, US dollar SPY correlation is not rare, but when it happens you see fast corrections.

snapshot
Reply
alexp QuantitativeExhaustion
3 years ago
Ideally it should even overshoot 157 and trap some bulls first...
Reply
Kip
3 years ago
I agree with your supposition that a gap may drive the market price to close the gap. However, one must consider whether the ETF SPY drives the market or the SPX which has a smaller gap 0.2% /0.47%; or does the more recent gap yesterday have a greater influence: 0.33% / 0.32%.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out