price structure shows a good chance for a retest of the ath´s.
indicators slightly bullish signals.
as long as SP500 is not deeply correcting - UPS should show rel strength.
so a bullish strategy is to favour.
SL below the utl
After the heavy downtrend and a possible sell out - price should now stabilizise & gain some momentum.
so a correction move to about $25 is favoured.
RISK : a restest of the recent lows cannot be ruled out, but the next bigger move is up.
oversold & signs for a recovery..
rising volatility is now problem for the market - SPY made a slightly new ATH. normaly we should see a fight
between bulls & bears here. if the bears win -a bigger rise would be normal. otherwise a rangebound trading with no clear st trend leads also to a rising vola..
st and mt a intersting chart / EW-count.
st we should see a retest of $12, followed by a normal correction that leads us in november to a big rallye.
The lt dtl is broken.
SL : below $10.7 this scenario gets shattered..