SPY close analysis 6/1/2023
After the clear reset from the last analysis, we bounced upwards as I expected.
Notice the oscillator: curling up with plenty of room above. We could make a double top here with a solid rejection but my expectation remains bullish. Anything below 416 means we're in for a larger retracement and is a good short opportunity.
In short: Long only, expecting price to break into mid 420's. Thesis is broken temporarily below 416 zone.
Notice the oscillator: curling up with plenty of room above. We could make a double top here with a solid rejection but my expectation remains bullish. Anything below 416 means we're in for a larger retracement and is a good short opportunity.
In short: Long only, expecting price to break into mid 420's. Thesis is broken temporarily below 416 zone.
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💎 Get my %R Trend Exhaustion indicator: bit.ly/prte
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