timbousc1

Key Battleground Spot for S&P

timbousc1 Updated   
AMEX:SPY   SPDR S&P 500 ETF TRUST
This is a crucial battle in the price action between bulls & bears on the $SPY, a close below 426-427 could confirm and Head & Shoulders top, with an increasing risk of falling to 380 in a stage 4 trend.

If 427-428 acts as support and we find sideways price action over the next couple of trading days, it could confirm a short term bottom and we see some recovery towards ATH

IGNORE THE HEADLINES AND TRADE THE CHART
Comment:
Maybe we find support and rally from here, but we appear to still be in a stage 4 down trend with a bearish triangle
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