Some more downside for SPY
As I interpret this chart and market sentiment there is approx. another -1.5% downside to $426.
The long term uptrend is still intact but the short term correction still has a little room to run.
1) Currently down -4.5% from its high at $454
2) the RSI, MACD and CMF are not indicating a change in direction
3) Similar pattern in the QQQ (also indicates a lower move)
4) Another -1.5% to the down side would be a healthy correction
Where does it goes after that? Probably sideways for a while!!
Hope this helps.
The long term uptrend is still intact but the short term correction still has a little room to run.
1) Currently down -4.5% from its high at $454
2) the RSI, MACD and CMF are not indicating a change in direction
3) Similar pattern in the QQQ (also indicates a lower move)
4) Another -1.5% to the down side would be a healthy correction
Where does it goes after that? Probably sideways for a while!!
Hope this helps.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.