SPY: Ascending Triangle, is the tide turning UPDATE!

21 thg 5, 2023

Hi all,

Update on SPY.

1- An ascending triangle, not confirmed,..., yet. But the price action just made its first steps into the green zone. Broke the 418-419 barrier.
2- Golden Cross (Circled in blue). For the first time since July 2020, the 50MA crossed over the 200MA.
3- Both 50MA and 200MA are on a positive trend since the golden cross. 200MA is a bit flat but still.
4- 250RSI still above 50. Check
5- Recessions signs: Still no signs that it will affect the current uptrend.

If confirmed, PTs are:

PT#1 = 418$
PT#2 = 429$
PT#3 = 545$
PT#4 = 470$
PT#5 = 479$
PT#6 = 498-500$, ALL TIME HIGH

So again, these are my thoughts. Please do your own DD prior to investing. Always a smart thing to do.

As always, stay humble, have fun, make money.

MAAX.

10 thg 6, 2023

Ghi chú

Target #1 and #2 filled!