283 5 4
From a few weeks ago - We have lower low in place. First time since 2010.
Totally agree. Even though I think the market will have a 20% adjustment totally, the trend is still up until proven wrong.
Oil seems to either be the driver or the indicator to watch as to where SPY bottoms, if it is does.
KLang claydoctor
I don't see it
But, it is an important part of the S&P.
Great observation, klang! Do you see that $195/$196 SPY uptrend line being retested? I'd say the bulls have to push above $190 asap to pick up steam for any upside push, even if its short-term in nature.
KLang Syncubate
The only pattern I see is an IHS on the 60min chart - even if it confirms, I don't think it will fulfill. My feeling is, it will be a volatile market. I have no idea if the bottom would be re-tested, but it it were tested successfully, I'd consider that bullish.
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