SPY Weekly Consolidation
TICKER: 
SPY
Huge pull back last Thursday and Friday, breaking the weekly HL of every candlestick pattern. We dumped significantly and have bounce before labor day weekend.
I will be looking for a SHORT entry on a LH bounce if there's a low risk high reward setup. Keep in mind if the market is dumping like we've seen in March, things could get extreme.
Panic selling, buying, fear, FOMO, etc... will kick in and a lot technical guide/indicator that used to work will be slightly different, so be careful. The million dollar question this coming trading week is how strong is the bounce, what's the volume like, and are we going to drop down to lower low to spark fear in the markets?
SPYHuge pull back last Thursday and Friday, breaking the weekly HL of every candlestick pattern. We dumped significantly and have bounce before labor day weekend.
I will be looking for a SHORT entry on a LH bounce if there's a low risk high reward setup. Keep in mind if the market is dumping like we've seen in March, things could get extreme.
Panic selling, buying, fear, FOMO, etc... will kick in and a lot technical guide/indicator that used to work will be slightly different, so be careful. The million dollar question this coming trading week is how strong is the bounce, what's the volume like, and are we going to drop down to lower low to spark fear in the markets?
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