As we are all well aware, February is a tough month in any indices . SPX/SPY is no different, not special but just as you see it laid out on this chart here. To say history doesn't repeat itself is absurd. What you see here is the 15 Minute Chart and the Monthly chart with RSI. Feel free to have a looksie. You will see we are just coming out of monthly Bull flag or pennant., in its retracement . Not a flag, nor pennant, just the retracement aspect. We are also just now coming out of a monthly overbought pattern on the RSI indicator. I think it would take some fantastic news to turn this beast around...Cure for virus, cure for cancer even..But it is what it is. I do see this going to 400, and a rug pull, just not until we reach a level of decent pullback.
This is my first published chart , so I am eager to read comments, as well as your thoughts and ideas. Trade smart, stay healthy, and best wishes. Thanks for your time!
This is my first published chart , so I am eager to read comments, as well as your thoughts and ideas. Trade smart, stay healthy, and best wishes. Thanks for your time!