SPY has dumped too much, should stay above 400 and it didn't.
It was already oversold on 15min, but dumped more....
It could be a fake out, so I am going to see if it can bounce back to its support (now possibly resistance) and if its rejected I will take a swing on a short side.
The level to watch is 395+- and if that gets rejected I am short.
As for Monday, there is clear H&S on 5-15min, I would guess SPY will go to 394 at the open area and then dump heavily to 389.
This could be very nice trade.
Good luck!
It was already oversold on 15min, but dumped more....
It could be a fake out, so I am going to see if it can bounce back to its support (now possibly resistance) and if its rejected I will take a swing on a short side.
The level to watch is 395+- and if that gets rejected I am short.
As for Monday, there is clear H&S on 5-15min, I would guess SPY will go to 394 at the open area and then dump heavily to 389.
This could be very nice trade.
Good luck!