|
Starting to come into resistance that was set in early September on the SPY. We definitely formed a head and shoulders bottom but for the moment we could see a touch of selling. Volatility still continues to come out and the strength of the down trend is about gone. If we run into a top here or in the next few days I would look to buy into any dip with a stop loss below $425 on the SPY.
With all the inflation shit going on we may not extend a new leg of the bull run but could get in a trading range between $425 - $455.
The next positive sign for a new leg up would be the 20 day SMA pulling above the 50 day SMA.
Last edited by petegz28; 10-20-2021 at 09:09 AM..
|