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jacobosiason7

SPY Daily - Rising Wedge

Short
SPDR S&P 500 ETF TRUST (BATS:SPY)  
jacobosiason7  
BATS:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Chart Patterns Technical Indicators SPDR S&P 500 ETF (SPY) SPX (S&P 500 Index) Bearish Patterns Rising Wedge abcdchartpattern supply_and_demand rsi_divergence economicdata CPI
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trendanalysis chartpattern indicator spy spx bearish risingwedge abcdchartpattern supply_and_demand rsi_divergence economicdata cpi
Treading lightly here as the SPY looks to be right at the end of a bearish rising wedge following a bearish ABCD Elliot Wave heading into a major week economically speaking. On Wednesday we have retail sales numbers, core CPI, and Core CPI YOY coming out, followed by jobless claims on Thursday. Will be watching closely, some support levels and RSI-based supply and demand zones to keep an eye on in the meantime, bearish and hedged- (Original Chart Attached Below)

Bearish Megaphone on the SPY - Update

- Rising Wedge following a bearish ABCD Elliot Wave
- Hidden Bearish Divergence on the RSI
- Sitting right on its 50-Day SMA
- Bearish ABCD Elliot Wave

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