Crucial test for SPY tomorrow.

Related tickers: SPY,SPX.

SPY is running into a confluence of two major resistance regions. A breakout and hold above 365 will determine if the Index makes a new ATH (which looks most possible at this point)

I am assuming SPY to make an ATH going into December and fall back into correction by the end of December or in Jan.

A break above 365 is a good long entry in the short term.

Note: All the sentiment indicators are indicating extreme bullishness especially among retail investors. If you are a contrarian this would be the time to go against the market sentiment.

Thank you for reading.


**Just an Opinion