SPY Update Daily TF October 26
The SPY is up +11% from the Oct 13th bottom & is now attempting to break topside resistance levels.
Things to note:
- Broke above 50EMA today
- 9 turning up bullish
- Next resistance @ 100EMA + 0.5 FIB @ $390
- Major resistance @ 200EMA + BF & downward sloping TL
- BF move played out setting lower low @ $349
- Next major support below $350 is @ $325
- RSI heating on daily but room to go
- RSI on 4HR is in OB territory
Aside from earnings, the next major event I'm waiting on is the Nov 2nd FOMC meeting & rate raise.
The thought process is going to be the same here: waiting on the next sell-off to see where it takes us & will likely take long positions then.
Stay tuned.
Things to note:
- Broke above 50EMA today
- 9 turning up bullish
- Next resistance @ 100EMA + 0.5 FIB @ $390
- Major resistance @ 200EMA + BF & downward sloping TL
- BF move played out setting lower low @ $349
- Next major support below $350 is @ $325
- RSI heating on daily but room to go
- RSI on 4HR is in OB territory
Aside from earnings, the next major event I'm waiting on is the Nov 2nd FOMC meeting & rate raise.
The thought process is going to be the same here: waiting on the next sell-off to see where it takes us & will likely take long positions then.
Stay tuned.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.