$SPY SHORT the trend was broken
TL;DR: There is no more earnings hope now. This bull retrace could end anytime if there is a broken trend sign.
We broke the pitchfork on Thursday and had a strong resistance on Friday. Meanwhile, the volume keeps at relative low level. This indicated the little bull trend on Friday was because most bears are waiting. If there is no news input to the market, more investors will start taking their profit, which would cause a quick drop until the double-bottom form.
We broke the pitchfork on Thursday and had a strong resistance on Friday. Meanwhile, the volume keeps at relative low level. This indicated the little bull trend on Friday was because most bears are waiting. If there is no news input to the market, more investors will start taking their profit, which would cause a quick drop until the double-bottom form.
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