TradingView
ControlPanel
May 21, 2021 7:30 PM

Broadening formation since Nov. 2020. Short

SPDR S&P 500 ETF TRUSTArca

Description

Expect at least a retest of the Nov. 10, 2020 price value.

Comment

My confirmation would be a drop below 403.5 sooner than later.
Comments
nicholasbdurham
I also posted a similar idea a few weeks back. What do you think about what will happen in the coming days/weeks? I was expecting a lower low in the last dip in March, but rebounded instead to ATH. What do you think now, 375 on the way?
ControlPanel
@nicholasbdurham, My idea is speculatively derived from the nature of the advance since the beginning of November and not yet confirmed by the price action. There are two problems here. First, complacency is not so extreme to warrant a high level of confidence in this idea. Secondly, I'm not aware of any fundamental change in the financial market conditions. Any change in the coming days would be in hindsight. Take the idea for what it's worth.
More