SPY has almost completed compound move. At key resistance

SPY has almost completed the compound move back to the 618 and 1.618 extension .
We are now at key resistance with confluence at the daily 50 SMA . Still room to the daily 200 SMA .
Will wait for lower time frame price action to confirm reversal.
See previous post.

Komentar:

Seems to want the 618. or even 200. If I see lower low on 30min coming into 618 I will trim all long positions

Komentar:

Made the lower lows. Closed most long positions. Hedging remain longs with SPY puts.