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TopgOptions
Mar 30, 2024 1:53 PM

SPY S&P500 etf Bearish Divergence Short

AMEX:SPY1D
SPDR S&P 500 ETF TRUSTArca

Description

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If you haven't already purchased SPY after the 2023 forecast: forecast:


then it's important to be aware that there's a significant bearish divergence in the RSI of SPY, the S&P 500 ETF, which initiated at $469.

Anticipating a technical retracement to $495, given its prolonged period of being overbought!

Trade active

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SPY getting closer to our Price Target.

Trade closed: target reached

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Price target perfectly reached today! Looking for a reversal soon.
Trend AnalysisTechnical IndicatorsFundamental AnalysisSPDR S&P 500 ETF (SPY) SPX (S&P 500 Index)spyshortStocksETFsp500indexindexbuy-sell-signalbuysignal
Comments
Luck264
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510 is enough which is major support
TopgOptions
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@Luck264, seems like it has reached $495 :)
Luck264
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@TopgOptions yes. Blood on the street
Luck264
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@TopgOptions war helped bears
TopgOptions
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@Luck264, it's not like I'm bearish on SPX, just that it was overvalued on many metrics.
ukyuki
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Again another great work
TopgOptions
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@ukyuki, you`re too kind, thanks!
elenaec
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are we done with the correction ?
TopgOptions
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@elenaec, probably
hohuang
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as u marked (5) = 524.48, after (5) should follow ABC correction. how come EOY target is 540? thanks!
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