Will SPY correct further?
Hi all,
Was going through the SPY chart. Since it has broken a major trendline, the probability of a correction is significant now. Although the price seems to be moving back up, it can be setting up a stage for a correction to the support zone. The current rally can be seen as an ABC correction which can start a deeper pullback if the market fails to break resistance. Either it's that, or we just see things consolidate sideways and breakout later.
What are your guy's thoughts?
Was going through the SPY chart. Since it has broken a major trendline, the probability of a correction is significant now. Although the price seems to be moving back up, it can be setting up a stage for a correction to the support zone. The current rally can be seen as an ABC correction which can start a deeper pullback if the market fails to break resistance. Either it's that, or we just see things consolidate sideways and breakout later.
What are your guy's thoughts?
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。