The weekly SPY chart continues to look positive.
I circled areas where strong bounce weeks ended up failing and reversing to new lows.
But IMO, those reversals came with poor technicals (MACD trending down and/or negative) and showed big red candles right away. Now, we're seeing different action - MACD is turning up now and last week was flattish, closing at support. Stay long
I circled areas where strong bounce weeks ended up failing and reversing to new lows.
But IMO, those reversals came with poor technicals (MACD trending down and/or negative) and showed big red candles right away. Now, we're seeing different action - MACD is turning up now and last week was flattish, closing at support. Stay long