SMP99
Long

SPY Thu 10-14

AMEX:SPY   SPDR S&P 500 ETF
spy
153 2 6
spy
Down trend line for the past week may break to the upside today after two failures late yesterday and early this morning. With oversold daily and hourly readings, definitely not a place to be pushing shorts IMO. Levels of interest to me are marked. If the trend breaks up, a big snap back rally to 188-189 by EOD             tomorrow would not be surprising.
leokaplin
2 years ago
Do we complete the rev h&s or back down to retest the lows?
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SMP99 PRO leokaplin
2 years ago
not sure. i expect a retest of the lows or near lows. i've had 190.50-192 as a spot for potential pivot. However getting to that level would complete the inverse H&S and would give a much higher price target. So maybe we don't get to my initial target and turn lower sooner.
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