🔸️Ticker Symbol: SPY 🔸️Timeframe: Daily 🔸️Investment Strategy: Short
TECHNICAL ANALYSIS:
We have seen a run up in the SPY starting back in June from 363 to 430 on August 16th. We are now seeing a pull back and high potential for continuation down. The 200 SMA on the daily shows SPY rejecting.
Key Points on Indicator:
1. Top of the channel for the "Linear Regression" lines
2. "Sell Signal" indicating change in upward trend to the downside
3. Dashboard below showing "Money Momentum" line going lower
4. Red "Dot" indicating EMA cross over.
🔔 Follow for daily stock, crypto and forex technical analysis.
⚠️ Trading is risky, and I understand nothing is guaranteed. Proper risk management should be in place at all times to minimize losses. Please consult a financial advisor before trading.
TECHNICAL ANALYSIS:
We have seen a run up in the SPY starting back in June from 363 to 430 on August 16th. We are now seeing a pull back and high potential for continuation down. The 200 SMA on the daily shows SPY rejecting.
Key Points on Indicator:
1. Top of the channel for the "Linear Regression" lines
2. "Sell Signal" indicating change in upward trend to the downside
3. Dashboard below showing "Money Momentum" line going lower
4. Red "Dot" indicating EMA cross over.
🔔 Follow for daily stock, crypto and forex technical analysis.
⚠️ Trading is risky, and I understand nothing is guaranteed. Proper risk management should be in place at all times to minimize losses. Please consult a financial advisor before trading.