SPY in Clear Downtrend - Where are we headed next??

2022년 10월 14일

Ever since the S&P 500 topped at the end of 2021 we have been in a clear bearish down trend.

Here we're looking at the weekly chart. Drawing fibonacci lines we can see the area's of previous support tell us to keep an eye on these levels:
345
320
300
275

We can also see that the RSI is oversold on weekly so we can potentially see a little rally.

Macro trends are not looking great with inflation hanging around, Russia vs Ukraine tensions, etc

Happy trading!