$SPY has been trending down for the few weeks now and it gets worst as the geopolitical affects the market.
as you can see, SPY is bout to approach its support level and where it bounce recently after hitting the support level.
but this time is a bit different from previous bounce since market is highly affected with the shortage in commodities specially
with chip makers and other important commodities. on the side note, energy stocks is rising like natural gas, oil, electricity etc.
maybe we're already in the bear market but people still haven't realized it.
also market could bounce if the geopolitical problems stops and can cause a short term bullish run before it pulls back again.
note: techs stocks still looking bearish since it correlates with $SPY most of the tech stocks has simillar patterns like SPY.
just view them in the higher time frame like 1hr, 4hr and daily.
Day trade or scalp target play: 03/ 09 /22
Buy call above 419.23 sell at 423.29
Buy puts below 412.84 sell at 408.44
Hello everyone,
welcome to this free technical analysis . ( mostly momentum play )
I am going to explain where I think this stock is going to go over the next day or week play and where I would look for trading opportunities
for day trades or scalp play.
If you have any questions or suggestions which stock I should analyze, please leave a comment below.
If you enjoyed this analysis, I would definitely appreciate it, if you smash that LIKE button and maybe consider following my channel.
Thank you for stopping by and stay tune for more.
My technical analysis is not to be regarded as investment advice. but for general informational proposes only.
as you can see, SPY is bout to approach its support level and where it bounce recently after hitting the support level.
but this time is a bit different from previous bounce since market is highly affected with the shortage in commodities specially
with chip makers and other important commodities. on the side note, energy stocks is rising like natural gas, oil, electricity etc.
maybe we're already in the bear market but people still haven't realized it.
also market could bounce if the geopolitical problems stops and can cause a short term bullish run before it pulls back again.
note: techs stocks still looking bearish since it correlates with $SPY most of the tech stocks has simillar patterns like SPY.
just view them in the higher time frame like 1hr, 4hr and daily.
Day trade or scalp target play: 03/ 09 /22
Buy call above 419.23 sell at 423.29
Buy puts below 412.84 sell at 408.44
Hello everyone,
welcome to this free technical analysis . ( mostly momentum play )
I am going to explain where I think this stock is going to go over the next day or week play and where I would look for trading opportunities
for day trades or scalp play.
If you have any questions or suggestions which stock I should analyze, please leave a comment below.
If you enjoyed this analysis, I would definitely appreciate it, if you smash that LIKE button and maybe consider following my channel.
Thank you for stopping by and stay tune for more.
My technical analysis is not to be regarded as investment advice. but for general informational proposes only.