Options_Trading

SPY bullish as we completed a 5 wave down

Long
AMEX:SPY   SPDR S&P 500 ETF TRUST
SPY looks to be setting up a strong move bullish, as the SPY has put in a 5 wave count down. Is it done or does it go a little lower? Well after the Fed on Wednesday we will see which direction. If it does go lower, it most likely won't last. If it goes higher expect it to keep going. This market has been tough, but we are definitely over do for a bear market rally and I'd expect it to be a strong one.

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.