SPDR S&P 500 ETF Trust

Excitement, 11th January 2023

168
🖼 Daily Technical Picture 📈

➤ S&P500 reversed yesterday's price action. The excitement is building and it's not because of the inflation data.

➤ Wyckoffians will know what I'm talking about. The recent price action post break out of the small consolidation phase over the last couple of weeks is a classic looking Bullish/Accumulation pattern. It's almost textbook perfect. If it all goes to plan, prices are poised to explode higher.

➤ I remain long with a small position.

➤ Conclusion: Becareful of perfection.

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