SPY Pull-back to 405-ish?

2021年6月3日

Technical Analysis suggests we may see a pull back on SPY to around 409. RSI is overbought, MACD is in a bearish position. OBV suggests outflows. We've had 3 rejections of the top around 420.

I expect a pullback to cool off the technicals. Whether we get another leg up or down is TBD.

2021年6月4日

註釋

The MACD has changed to bullish & VIX is down, suggesting more room for bullish movement, but the Put/Call Ratio is up. It's also another rejection off the top so it's anybody's game right now.

2021年6月9日

註釋

VIX & Put/Call Ratio down, MACD is still bullish while RSI is Overbought. More room for bullish movement is very possible.

The continued resistance of 422.23 as well as the current uptrend suggests an ascending wedge with the possibility of a blow-out top. However, overbought RSI could lead to some sideways motion to see the RSI cool off.

2021年6月23日

註釋

The daily MACD & RSI suggest bullishness while the weekly suggests more room for downside. OBV suggests it didn't take much selling to take the price down that much.

Looking for a bounce that may test the high of 425.36 before more downside that could test as low as 413.63.

2021年6月29日

註釋

Ultimately this didn't pan out; market resumed bullish trend after a fairly normal pullback.