$SPDR S&P 500 ETF (SPY.US)$ There's a descending Res ** that...
$SPDR S&P 500 ETF (SPY.US)$ There's a descending Res ** that started in premarket Jan 28, touched again on Feb 3, and now SPY is potentially making a small rising wedge right up into it that is likely to reach its apex tomorrow, and AND terminating around 698, which is also hitting a key Res ** that goes back to Oct 29, 2025...The day before NFP numbers are released.
Do with that information what you will.
NFA
Do with that information what you will.
NFA
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Just a dude highly interested in the financial markets who wants to share helpful info along the journey. 3+ year exp
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philip shaffer : yea spy back at levels it has rolled over at since Oct. qqq rejected bottom of its wedge its been in since Oct. plus vix never broke uptrend ** its been following for last week plus in vix macd has went positive on weekly
all in all the time : Agree
Derpy Trades OP philip shaffer : I agree. I've been watching that support ** on the VIX for weeks and it's still holding up. I even posted about it recently.
philip shaffer Derpy Trades OP : yea there is also been a ** from 2024 that's been holding up also on vix
Very Bearish Fredo :
Derpy Trades OP philip shaffer : Correct. I also have it charted, as well as the VIX is awfully close to completely breaking out of a major, multi-year Res **.
Derpy Trades OP Very Bearish Fredo : I've heard someone else seeing that too.
philip shaffer Derpy Trades OP : yea plus with seasonality of feb being a bad month im thinking we can see it happen soon
Derpy Trades OP philip shaffer : Same.