As mentioned in my previous SPY analysis, the ETF is on it's way to form a hypothetical Double top. We have a confirmed MACD crossover now and a move below the trendline of the short-term uptrend with a gap.
We are headed towards the neck at 320 level, which will be crucial for the tracker before the US Presidential elections.
You can open an aggressive short here, or play it defensively: wait out on today's price action and go short on the next US session.
OR: wait out for the break and test of the neckline to playout the DT figure.
We are headed towards the neck at 320 level, which will be crucial for the tracker before the US Presidential elections.
You can open an aggressive short here, or play it defensively: wait out on today's price action and go short on the next US session.
OR: wait out for the break and test of the neckline to playout the DT figure.
