SPY - Are you Prepared?

20 thg 7, 2023

SPY is trying to set up a very bearish attack on the weekly time frame that could morph into a much larger correction. It will likely take another week until SPY sets the tone for its next moves, but there is some bearish divergence in RSI that suggest this white path could gain steam. Daily candles are already signaling caution, and if next week's closing candle is a bearish engulfing or a shooting star of sorts then one should exercise caution and Andrew's pitchfork suggest the failure to reach the target to the upside means the target to the downside is still in play. GLTA!