We're all going to DIE!!! Double bottom for the SPY August 31,22

Short

SPDR S&P 500 ETF TRUST (AMEX:SPY)

Updated

AMEX:SPY SPDR S&P 500 ETF TRUST

Sentiment is pretty low here I was counting on a double bottom but I think the sellers need more exhausting before buyer kick in. Just dropped below the $396 which was acting as a support so hoping this doesn't drop, if it does on the longer term on the 4 hour you're looking at as low as $390.50. Just keep in mind the average true range on the daily is $6.50 on the SPY and the top was $6 higher than we are, might not matter so just something to keep in mind. I'm hoping this will bounce and go long but I'm thinking we're about to dump.

Comment:

Keep in mind there was a bullish divergence on the stochastic hence why I was hoping for a bounce.

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