Get started
goderictia

SPY Corrective (Short Term)

S&P 500 Index (OANDA:SPX500USD)  
goderictia  
OANDA:SPX500USD   S&P 500 Index
Trend Analysis Wave Analysis Chart Patterns SPDR S&P 500 ETF (SPY) snp500 futures
2
0
trendanalysis waveanalysis chartpattern spy snp500 futures
In the next couple of days, SPY will trade in this corrective zone on the daily.

1) Trend line is holding as resistance which coincides with
-the fib level
-the supply zone

2) ABC pattern where price bounced off

Option 1: Wait for prices to form today on the daily to determine the corrective pattern
Option 2: Take a long position but have a tight stop aiming for potential fib level

Biasness - Long term bullish
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.