Just some observations about the SPY trend lines since Covid19 caused the economy to shut down in March 2020. Support turned to resistance once already. Currently hanging on to the 2020 bottom support line. Will that break and become resistance? We shall see.
Good luck to all! Not investment advice. I am not an expert.
Signs of an incoming swing upwards.
Move index showing signs of a big volatility spike.
UVXY money flow showing money is piling into the hedge as they did back in February 2020.
SPY CMF showing the big money has exited (not shown on this chart).
Bullish divergence marked on the charts RSI and CMF.
Higher lows on Thursday and Friday. Wednesday would have been...
Not investment advice. I am not an expert. Things could be shaping up for a long overdue test of the 200 Day EMA. The dip buying has been furious the past several weeks. Have those buyers been exhausted? We will find out. Good luck to all.
Not investment advice. I am not an expert. Anything can happen. If it weren't for 7 of the top 10 weighted SPX stocks being up today, there would have been an absolute blood bath today. We'll see what tomorrow brings.