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Spyneutral

Wait before striking... Is SPY going to fall out of its ascending channel? We might see a dead cat bounce today, but factors remain uncertain about the Delta variant and how the government will respond. However, we are at the beginning of the earnings season which brings risk against going short SPY. Los Angeles has started its mask mandate again this past weekend. 40% are unvaccinated and if they're unvaccinated now with a vaccine surplus, they aren't likely to be vaccinated soon. Will keep an eye out for how SPY moves for the next few days before entering a position. I will short again if SPY breaks down past 420 and makes a small bounce back up and if global stocks are down as well.
AMEX:SPY
by WfhtraderXx
We're At a Critical Point Right Now for SPYWill the price break this resistance zone and end the bearish trend? Or will price reject off this resistance and form a double top and continue hitting new lows? Right now, we are in neutral territory until we can see clear higher highs/higher lows or lower highs/lower lows. Fundamentally, I have a bearish bias. But when doing technical analysis, it's important to operate without a bias, therefore I am currently neutral in my prediction. It's about waiting and seeing. If the SPY closes above $345, I will be closing my short positions.
AMEX:SPY
by trufeats
SPY Bullish or Bearish ? Trend Channel|200DMA|Pivot PointEvening Traders, Quick Analysis on the SPY - trend is still bullish until the channel is broken. Points to consider, - Channel Resistance Respected - 200 DMA Confluence - RSI Support - Stochastic Momentum Down SPY is in a technical channel testing support that is in confluence with the Daily 200 MA, a bounce here is probable. Breaking support will mean breaking market structure, SPY will then have bigger problems The RSI is technically on support sitting above 50, breaking this will indicate weakness in the market. Overall, in my opinion, the uptrend is still intact, the market remains bullish until the channel is broken Hope this helps! And remember, “Trade What’s Happening…Not What You Think Is Gonna Happen.” – Doug Gregory
AMEX:SPY
by The_Alchemist_Trader_
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