SPY - Bullish Divergence on the Fear and Greed Index
Fear and Greed Index just formed a double bottom.
Yesterday's price bottom was right in the middle of:
1. The 38.2 fib retracement from bottom to top
2. The 100% fib extension from the top to the most recent swing high
The wedge is only broken by a wick on the weekly chart.
Anticipating a lower high being set at a highest target around the upper trend line of the wedge and then lower from there.
Yesterday's price bottom was right in the middle of:
1. The 38.2 fib retracement from bottom to top
2. The 100% fib extension from the top to the most recent swing high
The wedge is only broken by a wick on the weekly chart.
Anticipating a lower high being set at a highest target around the upper trend line of the wedge and then lower from there.