SPY levels update - Still waiting
First of all, I would like to note that the price found support roughly at the zone noted earlier: flag bottom + 21EMA. Yes, we got a shakeout, but it was not followed by high volume and was aggressively bought back.
We are still inside the flag, with support around 523, where I see the Inv H&Sh pattern on the lower timeframe, as well as the 21EMA. If this level is broken, price may try the 50SMA (and the flag bottom).
As long as the price is above these lvls - that is pretty positive!
We are still inside the flag, with support around 523, where I see the Inv H&Sh pattern on the lower timeframe, as well as the 21EMA. If this level is broken, price may try the 50SMA (and the flag bottom).
As long as the price is above these lvls - that is pretty positive!
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