SPY is right at the door of the next resistance at the 1H chart. Will it have enough ammo to break it? On the 4H and 1D, 472-473 (which is around the ATH) is the next resistance.
Today's close will give us an idea if SPY is going to attempt to break 470.
My personal idea is that it might get rejected in the 468-470 area and would then test the start of the gap or maybe even try to fill the gap. I think we might see one more green day but with the FOMC meeting next week, I think we will see a lot of selling on Friday.
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This is not an investment adivce.
Today's close will give us an idea if SPY is going to attempt to break 470.
My personal idea is that it might get rejected in the 468-470 area and would then test the start of the gap or maybe even try to fill the gap. I think we might see one more green day but with the FOMC meeting next week, I think we will see a lot of selling on Friday.
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This is not an investment adivce.
註釋
This scenario is still in play. It got rejected from 468-470 a few times but today, it finally broke it with a lot of volume and closed another candle above it. The volume of the last three candles has been quite good.Next is retest (and looks like a break) of the previous ATH to make a new ATH.
註釋
finally broke out of the resistance and has managed to stay above. Monday and Tuesday's price action will be very important.交易結束：目標達成
This might the time to close long calls or set a very tight stop loss.
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