SPY Small Timeframe
I would be looking for an entry shorting to our support at the brown line/ testing lows from Oct 11 If we break our current purple bear flag. 1.7% profit potential. If we counter trendline break up for another retest of resistance then I will wait.
We have been hovering around our daily 200 MA which is coming in right where price is currently. So, if we break below this purple support then we will have 2x the resistance if the price tries to move back up.
This is a short-term analysis, but please check below where I have attached a much more thorough bigger timeframe chart for great shorting opportunities. Check it out!
We have been hovering around our daily 200 MA which is coming in right where price is currently. So, if we break below this purple support then we will have 2x the resistance if the price tries to move back up.
This is a short-term analysis, but please check below where I have attached a much more thorough bigger timeframe chart for great shorting opportunities. Check it out!
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