SPY- Bearish Reversal - Update
SPY looking very bearish here, frankly, the markets have been overextended for quite some time and all technicals are bearish on almost every timeframe- Some FIB levels and RSI-based supply and demand zones to keep an eye on-
- Bearish ABCD Harmonic Pattern Formed
- Spinning Top Candlestick Pattern (Reversal Pattern, Bearish in This Case)
- Bearish Butterfly Harmonic Pattern Also Formed (See Attached Chart)
- Buyer Volume Drying Up
- RSI way in Overbought Territory
- MACD Death Cross on the 4-Hour
Previously Charted
https://www.tradingview.com/i/QjzW3St4/
https://www.tradingview.com/i/auLgho0x/
https://www.tradingview.com/i/WN0uJ4TR
- Bearish ABCD Harmonic Pattern Formed
- Spinning Top Candlestick Pattern (Reversal Pattern, Bearish in This Case)
- Bearish Butterfly Harmonic Pattern Also Formed (See Attached Chart)
- Buyer Volume Drying Up
- RSI way in Overbought Territory
- MACD Death Cross on the 4-Hour
Previously Charted
https://www.tradingview.com/i/QjzW3St4/
https://www.tradingview.com/i/auLgho0x/
https://www.tradingview.com/i/WN0uJ4TR
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