SPY close analysis 5/17/2023

18 thg 5, 2023

Finally a breakout from the "I hate this zone" zone! Feels like a month now. Tomorrow open will be key. An epic fakeout would be to gap down back into the bad zone. I remain cautiously bullish though with the idea markets want to trend higher. Follow through and remain above the zone and I am looking for long opportunities only. The key level to defeat is 416, which I have yet to see convincing price action above this year. No real trades here on SPY, just waiting for something to present itself.