SPY following its bullish path, watch for resistance

2022년 10월 29일

We got some big resistances up ahead at 4000-4100, I think we may be able to reach those levels or at least we can test the upper target I initially placed. I expanded yellow channel and the resistance is drawn in red indicating the overhead.

We can run into horizontal resistance and get stalled by a 75 pt rate hike next wednesday, Overall I don't think we will go bullish for too much longer. I am keeping an eye on the channel to see how it plays out.

Overall we are looking bullish for the short term.

Just my opinion.