Spy 11/3

Remember last friday when the spy gapped down and rallied the rest of the day? well I highlighted here so you can get a better picture of the support going on here. I think this support will important Tomorrow on any pullback.

So let's dive into this
On the daily chart The MFI has lit up "Sell"
On the 1hr chart the MFI has lit up "Sell"

Here we are on the 30min frame where I feel you can better see the candlestick interaction with the support and resistance.

White lines " Rising wedge)
Yellow line ( Split channel)

I have wedge support at 458.80-459$ but for the spy to reach this it will need first to break through that split channel at around 461.30..

I think most TA have the the spy heading much lower than this but to even to thos numbers we will first need to break wedge support tomorrow.

Entry - under 461.30
target - 459
Stop loss 462

If it bounces at 459 then we know the manipulators are at play here, Either cover and go long or wait for a return trip back to resistance to short again.

It's important to know also that the Dow Jones and NDX are at the door of their weekly resistances.


Hope this helps🤙