Inverted chart. SPY has been bouncing back and forth inside this pitchfork. The volume profile marked with red circles shows the areas of high volatility demarcating the tops which we should be very close to. Weekly doju candle, not shown here, is also another indicator. Our current resistances are the 430 and 450 as shown on the graph. We might see another dip on Monday before a rally but it should be brief. At the end, make sure to have your stop loss tight as the market volatility is at extreme levels. Our previous NVDA call turned upside down due to market volatility so make sure to be safe than sorry.
Comment:
This could be our last rally before capitulation. Be sure to jump out of it as soon as you see resistance around 430 or 440 max.
Comment:
Took a little longer than expected but the bounce is here.
