SPY ETF - Short - Reversal

١٧ أغسطس ٢٠٢٢

S&P 500 ETF is displaying a reversal pattern where, the stock is overbought on RSI and Stochastic. Moreover, a bearish pin bar is apparent and connected with a previous swing high in the chart (trend line). In addition, MACD is making lower highs (may turn bearish soon).

Entry is at the potential retest of the Bollinger band as a resistance.

Exit is at the bottom of the Bollinger bands (support level)