SPY Market Breakdown - June 29th, 2020
As always please do your own research, I am not a financial advisor.
- Looking at the 2H here, SPY last week broke out of this upwards channel it was trending in for the last few months and is losing it's longterm support (green box)
- If we keep getting more and more 2nd wave corona news as well as fomo fear news in the american media, I can definitely see a $282 put on SPY
- 294 is the 1st level of support down now that will touch
- 286 is the top of the support zone that we've seen on 18th May a wild Futures gap upwards.
- Very real possibility, proceed with caution. Market makers are also ruthless.
As always please do your own research, I am not a financial advisor.
