SPY Summer Pullback
Diupdate
The recent low levels of liquidity may become more prevalent moving into the summer time as vacation time for many nears.
I am also waiting to hear the decision from the Bank Of Canada as well as other major banks around the world about the start of quantitative easing and lowering interest rates as soon as June.
The only problem with this, is the increasing value of the USD/DXY which may begin to strengthen against other currencies whom begin their devaluation.
Because the markets are generally measured relative to the dollar, a stronger DXY may provide the market with some downside in the summer months.
We do have some gaps (inefficiency) below at approx. 505-510 on the SPY. Interestingly or not , the golden 0.618 golden fib overlaps perfectly in these potential support zones.
I do not quite see the larger probability of a major market crash during an election year at the moment, and the longer term trend is still bullish.
Lets see how things play out
I am also waiting to hear the decision from the Bank Of Canada as well as other major banks around the world about the start of quantitative easing and lowering interest rates as soon as June.
The only problem with this, is the increasing value of the USD/DXY which may begin to strengthen against other currencies whom begin their devaluation.
Because the markets are generally measured relative to the dollar, a stronger DXY may provide the market with some downside in the summer months.
We do have some gaps (inefficiency) below at approx. 505-510 on the SPY. Interestingly or not , the golden 0.618 golden fib overlaps perfectly in these potential support zones.
I do not quite see the larger probability of a major market crash during an election year at the moment, and the longer term trend is still bullish.
Lets see how things play out
Catatan
Dollar index at support zone after grabbing liquidity. Potentially looking for the move up here
Catatan
DXY on the 2HCatatan
SPY breaking a potential trend. Catatan
Dollar index as expected moving higher Trade aktif
SPY Potential double top with a failed buyer patter at the top of the range. Would love to see a pull back into the CC zone
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.