As of right now no reason to believe SPY is gonna flip bullish but these are the scenarios, key levels to watch.
Strong resistance $445 if we can manage to break or gap above (better) i believe we can see some liquidity taken out.
If by some miracle we make it to $445 look for some time of choppy price action , typically this weakens the resistance. If we end the day in that area good chance we gap above it.
support $442 and $440
If we break lower $440 is our next support zone
Strong resistance $445 if we can manage to break or gap above (better) i believe we can see some liquidity taken out.
If by some miracle we make it to $445 look for some time of choppy price action , typically this weakens the resistance. If we end the day in that area good chance we gap above it.
support $442 and $440
If we break lower $440 is our next support zone
Comment:
we have a nice channel which tells me buyers are in control. Find liquidity. Target upside listed
Comment:
gaps are by far the best confirmation of a break out because it invalidates the sellers if we can jump over them