$META Finds Strength at Key Support Amidst $SPY, $QQQ Downturn
In today's trading session, we witnessed a significant divergence in market behavior. While
SPY
and
QQQ
experienced notable downturns,
META
demonstrated resilience by adhering to a crucial support zone. This is further emphasized by its rebound off the bottom of the current uptrend channel, forming a 2-1-2u reversal pattern. This pattern could be indicative of a potential shift in market sentiment, especially with the upcoming NFP data release. Traders should keep a close watch on
META
for possible trend continuation or reversal signals. Chart attached for detailed analysis.
SPY
and
QQQ
experienced notable downturns,
META
demonstrated resilience by adhering to a crucial support zone. This is further emphasized by its rebound off the bottom of the current uptrend channel, forming a 2-1-2u reversal pattern. This pattern could be indicative of a potential shift in market sentiment, especially with the upcoming NFP data release. Traders should keep a close watch on
META
for possible trend continuation or reversal signals. Chart attached for detailed analysis.
Tracking chart Setups like meteorologist track Storms.