EvanMedeiros

channel breakdown leads to waterfall

BATS:SPY   SPDR S&P 500 ETF
73 1 1
$SPY hindsight analysis makes this trading business look so easy. A waterfall lower caused by the fed, raising rates, the USD, call it what you want, it doesn't matter. The facts are this. This week created a lot of technical damage as the S&P             was down nearly 5% in 2ish days (dont forget .83 cents ex-dividend so the downside LOOKS worse then reality). The elastic has been stretched and we're "likely" to breath/retrace/sideways here a bit. I believe for at least the start of this week we should see the market catch its breath and digest the shockwave that just hit it. IF we do see some upside early next week i wouldn't get too excited, look at the last few candles here, V shape bottoms are rare, you want to see healthy bases develop before taking longs and we're days if not weeks away from a developed base at these levels. call it 157 half to 161 half is the range I am looking at this coming week.
i agree but this maybe more, looking for gap fill and after waterfall
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out