SPY Channelling Higher Even When Seriously Overbought
Based on the Weekly Pitchfork, SPY trending nicely in the channel. If 
SPY doesn't don't drop 1% on 1/12, looks like we go higher even with RSI so overbought. And looks like a major external event will be needed to stop the party.
I am Neutral since when/if we get the news, I believe the air will fly out of the market for a reset of the technicals before we can go higher. I am counting in that to happen with cash on the sidelines ready to go to work.
SPY doesn't don't drop 1% on 1/12, looks like we go higher even with RSI so overbought. And looks like a major external event will be needed to stop the party.I am Neutral since when/if we get the news, I believe the air will fly out of the market for a reset of the technicals before we can go higher. I am counting in that to happen with cash on the sidelines ready to go to work.
I am a novice so use my idea at your own risk.
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.