The S&P 500 was hit hard this week after macro headwinds such as the less than dovish Fed meeting, and more China tariffs, the $SPY has taken a beating over the last few trading days.
However, despite this short-term rough path, it appears that a "Bull Flag" ("Flag") seems to be forming at the moment. If prices can bounce off the bottom of the Flag at $288, move higher, and breach $302,the rally would continue. If it fails to do so, more selling could be right around the corner.
Investors should watch this space.
However, despite this short-term rough path, it appears that a "Bull Flag" ("Flag") seems to be forming at the moment. If prices can bounce off the bottom of the Flag at $288, move higher, and breach $302,the rally would continue. If it fails to do so, more selling could be right around the corner.
Investors should watch this space.
