SPY Last Hope, #notlookinggood #8%drop #wesimiplydont know!
Id 260 is a byebye, I am only doing short trades.
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Hope there is a bounce today. there has to be.
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I meant if it crosses 260, I will be a bear.
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TG picked it up
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From what I see, this is a very bad price action. If the market is bullish and if this is a temporary pullback, SPY really needs to go 255 area and start a sustainable gain. IF it reverses today, that would complete wave 2. 3 and 5 will take this down hard to the 240 PT. Today's price action created a megaphone, which is a pattern seen before a HUGEEE fall.
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we need to see the green price action for a healthy market. If it rebounds here, expect more down side in the future
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AVOID FOMO buy at all cost, any stock at this moment is not worth your money!