SPY off Double Top is going down
SPY completed a Double Top on August 23, 2016. This common signal should allow for some downtrend in the future. The question is at what level will support be found. After the "RUMINT" from Jackson Hole was released, the first level of support was broken.
A 10% correction from the Double Top would occur around 198, which is Support Level 5. Depending on how fast Level 5 is broken, the market could be in freefall mode at this time.
In summary, we are going down, but question is how far
A 10% correction from the Double Top would occur around 198, which is Support Level 5. Depending on how fast Level 5 is broken, the market could be in freefall mode at this time.
In summary, we are going down, but question is how far
All forecasts are based on analysis of past behavior. Prior movements are not always indicative of future movement. Develop the theory, test the theory. Do your own research. Nothing in this analysis constitutes advice. YouTube For More. Good luck!!
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All forecasts are based on analysis of past behavior. Prior movements are not always indicative of future movement. Develop the theory, test the theory. Do your own research. Nothing in this analysis constitutes advice. YouTube For More. Good luck!!
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。