Hello fellow traders,
Recently SPY has been pretty profitable this year, however we were not able to break the price highs of December 2021.
Instead we have recently created a higher low, which indicates a bearish channel ahead short term.
There is a short term liquidity pocket at $425- $429 for SPY.
Short term recommended is bearish action.
With Treasury bonds yielding 5.5% Risk Free, money will shift from profit takers in equities into bonds short term.
Stay alert out there.
Recently SPY has been pretty profitable this year, however we were not able to break the price highs of December 2021.
Instead we have recently created a higher low, which indicates a bearish channel ahead short term.
There is a short term liquidity pocket at $425- $429 for SPY.
Short term recommended is bearish action.
With Treasury bonds yielding 5.5% Risk Free, money will shift from profit takers in equities into bonds short term.
Stay alert out there.