SPY: Week of Oct 13

11 thg 10

Just an update on my thoughts,
Mostly focusing around the break of the BMTL and what to expect with those types of breaks.

Hope you find it helpful!

As always, safe trades and take care!

7 ngày trước

Ghi chú

Forgot to mention in this post, not that it is incredibly helpful but it is incredibly interesting. If you run fibs on the monthly, the inherent swing low is from the 2022 October low, this makes this:



Which we actually rejected the 0% fib retracement, passing of which to the upside brings the next level to 800.
Pretty nuts!

Let's see what happens.

5 ngày trước

Ghi chú

Reference target taken out.

High prob weekly target taken out.

SPY has just been smashing against the bull trend but rejecting/unable to hold.

Expectation is that it will reclaim but as of now its best to wait for confirmation because these are quite a few rejections, I'm a bit surprised.