SPY Golden Cross formation! Its BULL TIME!!
SP futures finally closing above the previous descending resistance line on the 1D chart.
Combine this with the bullish indicator of the Golden Cross: 50 MA crossing the 200 MA
10 MA has already crossed the 200MA indicating at least, a short term momentum change.
On the Wed - 25 Jan we also see a long bullish hammer, with a long wick down indicating huge buying pressure at the 4000 zone followed by a huge bullish candle touching the 4075s on 26 Jan.
If bullish momentum continues, we can see a retest of key Resistances:
4170 & 4300
Combine this with the bullish indicator of the Golden Cross: 50 MA crossing the 200 MA
10 MA has already crossed the 200MA indicating at least, a short term momentum change.
On the Wed - 25 Jan we also see a long bullish hammer, with a long wick down indicating huge buying pressure at the 4000 zone followed by a huge bullish candle touching the 4075s on 26 Jan.
If bullish momentum continues, we can see a retest of key Resistances:
4170 & 4300
