SPDR S&P 500 ETF TRUST

SPY update: Bears counter-gap down, voided island reversal.

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Bears immediately counter-attacked by gapping down 1 day after bulls made an island reversal on Wed.
Those who immediately FOMO buy after island reversal were flushed out.(I warned that war not yet over due to 1 more down gap & strong resistance zone at 4700)
But the bulls immediately went up to fill the down gap. This is good but could be better if bulls continue their WED momentum & try to fill the next higher down gap that is still open.
The new battlezone is now b/w 440 & 460 which the bulls & bears should protect.
Better for bulls if they hold the 452 pivot support.
A small rally occurred last candle due to oversold RSI in 1 H chart.
However, on 1D chart, RSI turned down. The 430 level may be the maximum pain zone.
Not trading advice

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