SPY running risk of falling out of the H1 Channel
Updated
SPY is getting closer to the bottom of the H1 channel we have set up. If we continue below 385 then look for a return 382 and then 371 on our Fib sequence.
If we bounce off the bottom of the channel then it is just a release of any overbought scenario. We are short term neutral but long term bearish on the current market as the Daily is very overbought in our opinion.
If we bounce off the bottom of the channel then it is just a release of any overbought scenario. We are short term neutral but long term bearish on the current market as the Daily is very overbought in our opinion.
Note
Fell out of the channel, waiting for a retrace or some kind of decision at 382Note
Well never got to 382 and it has now climbed to an insane 400 level. We cannot even figure this out anymore.. just buying the dips at this point.
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