Potential reversal on SPY

2023년 2월 12일

We are looking at a potential reversal here on the SPY. To the bullish side. Let's break it down from June 22 2022 until now as you can see the chart tried to perform a reverse head and shoulders. But it did not reach its original high due to a trendline. This shows is that there intense selling pressure and the trend line is still valid. After the not-so-good-looking head and shoulders pattern it retraced to a support zone near 372. Then after it did a rising wedge pattern and the buying pressure broke the trend line. Now it seems like it is going to trace back and hopefully bounce off.

2023년 3월 5일

노트

It seems like we hit the channel and got a brutal bounce back. We were expecting a rejection earlier but we got it a bit after.