LvNThL

SPDR SPY ETF: Fade

Long
BATS:SPY   SPDR S&P 500 ETF TRUST
In my opinion, fade that in. You have a technical Cup and Handle on the Week and Day (In Bullish Formation). 50% Bullish Retrace to 388. Top side would be 400. In my opinion, I am buying this as an Investment. We have a 10% plus Bullish Retracement now. It's time to start looking for buys. My targets are 400-405, and 385-390. Interim: There may be a large pullback to 428-433 for relief.

Two Speculative Targets: 580-600, and 270-290.

Keep an eye out for a Bullish Reversal Pattern at 400 or 388.

Keep an eye out for a breakdown at 388. That suggests 350.

Keep an eye out at 350, for if you breakdown, you shall breakdown hard.

Lucky Trading,

Mr. Storm
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.