Sorry for the cluttered chart..
Got a lot happening here. Spy is in a upward channel right now, with a gap above that i think gets filled today or tomorrow. Red line is where my head is at right now, although i think there is still a chance green line happens too.
You can see both a big head a shoulders, or an inverse cup and handle forming if the red line plays out. I think Mid-End of May could be realistic in terms of heading back toward that 220 level. There are plenty of supports along the way and with how MSFT APPL and AMZN are performing (who make up 14+% of SPY) we might honestly never see all time lows out of SPY.
The FED also has a lot to do with the way this market is performing right now.
www.marketwatch.com/...s-it-mean-2020-03-23
Do some reading and educate yourself.
Got a lot happening here. Spy is in a upward channel right now, with a gap above that i think gets filled today or tomorrow. Red line is where my head is at right now, although i think there is still a chance green line happens too.
You can see both a big head a shoulders, or an inverse cup and handle forming if the red line plays out. I think Mid-End of May could be realistic in terms of heading back toward that 220 level. There are plenty of supports along the way and with how MSFT APPL and AMZN are performing (who make up 14+% of SPY) we might honestly never see all time lows out of SPY.
The FED also has a lot to do with the way this market is performing right now.
www.marketwatch.com/...s-it-mean-2020-03-23
Do some reading and educate yourself.
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interesting little sideways channel here.
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Lol the 287 Call option i grabbed yesterday for .30 should pay nicely today.. Got lucky. Wont try and say my technical analysis KNEW that was going to happen. Take the wins when you can!!
