Trends and breakouts
$SPDR S&P 500 ETF(SPY.US$ Here's an update with some charts and some quick TA. weekly chart followed by daily chart.
On the weekly you can see we tried to break the lower trend line but it didn't hold. we are still near the bottom of it though. See for yourself below, followed by daily under that.
On the weekly you can see we tried to break the lower trend line but it didn't hold. we are still near the bottom of it though. See for yourself below, followed by daily under that.
On the daily you can see we are near the top trend line and unless we have a gap down, we should open near it. So tomorrow could be another difficult trading day. I am still bearish as I don't see any reason not to be, based of weekly chart. I am not saying there's no bull side possible but be aware of that 400 level if we get near that. We have lots of room to the upside before breaking the macro trend. Below is the daily and please be careful trading tomorrow as this could go either way.
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