10.29.2023 SPY BOUNCE

٣٠ أكتوبر ٢٠٢٣

From a valuation perspective, SPY appears to be reasonably priced at 430. In this technical analysis, I'm looking to initiate a position in a rebound opportunity at the 0.5 Fibonacci level, aligning with the three-year trendline and taking into account the RSI reading, which is approaching the 30 threshold, as a confirmation signal.