SPX500 Bullish Reversal, Wait For Buy Confirmation

٢ يونيو ٢٠٢٢

Hi traders:

Most of the indices market are now looking bullish, and here on SPY is shaping up for a nice buy setups.

from the previous bearish development, price push down to the higher time frame previous lows, but failed to form continuation to go lower.

Instead, price formed a potential double bottoms on the higher time frame, and descending channel reversal. Good signs of the bearish momentum exhausted.

Latest development did have a bullish impulse up, and now forming possible continuation correction.

Be on the lookout for the completion of the correction to confirm and validate the buy setups

Thank you