SPY bullish on weekly chart

2023年5月16日

SPY has been staying for too long at the level of the red line on the weekly chart (and slightly went over it) and didn't bounce down from it. On the other hand, the green line seems to provide a better support. Therefore, I expect SPY to break through on the upside.

2023年5月18日

註釋

SPY did go up, at this time it's 415.86 (it was 411.50 when I posted this idea). I didn't buy SPY but I bought BULZ on 5/16 and just closed it with over 10% profit. At this time the market could go either way, there are bearish signs as well so I'll wait to see a clear direction.

2023年5月23日

註釋

SPY starts to look more bearish, in my assessment. It is now 417.92