SPY Backtesting channel - Short term Bearish bias
Looks as though SPY fell out of it's channel and is testing it as resistance.
- Hit 61.8% retrace from the Covid dump
- Selling volume increasing, price and oscillators rolling over towards bearish
- broken though support channel structure, testing if bulls will fight back in
Technicals are pointing to a dip, fundamentals are pointing to a dump, offset by how fast Blackstone can spend the Fed's printer money.
Not advice in any way, do your own research
- Hit 61.8% retrace from the Covid dump
- Selling volume increasing, price and oscillators rolling over towards bearish
- broken though support channel structure, testing if bulls will fight back in
Technicals are pointing to a dip, fundamentals are pointing to a dump, offset by how fast Blackstone can spend the Fed's printer money.
Not advice in any way, do your own research
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