SPY - Major Trend Tap
This trendline tap suggests it's another buy the dip. Also, the fear is at the highest point since COVID.
Check out the massive rising wedge. It's not a great wedge, but it does make you wonder. This is a cautious long and with anticipation of a flush down to greatly increase the odds of a bear break of the rising wedge.
Notice how RSI correlates with the fear and greed index despite no RSI being used in the construction of the index.
Check out the massive rising wedge. It's not a great wedge, but it does make you wonder. This is a cautious long and with anticipation of a flush down to greatly increase the odds of a bear break of the rising wedge.
Notice how RSI correlates with the fear and greed index despite no RSI being used in the construction of the index.
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