Just posting another update here on the SPY- Bearish megaphone is playing out as previously charted. The SPY rejected its 200day SMA the other day and now the 50-day SMA has crossed under the 200-Day SMA (Death Cross). The SPY formed a bearish butterfly harmonic pattern on the Hourly timeframe as well as a big head and shoulders on the weekly timeframe (See Attached Chart Below).
Some FIB levels and RSI-based supply and demand zones to keep an eye on in the meantime, bearish and hedged- (Previous Charts Attached Below)
-- Weekly Timeframe --
-- Hourly Timeframe --
-- Previously Charted --
Some FIB levels and RSI-based supply and demand zones to keep an eye on in the meantime, bearish and hedged- (Previous Charts Attached Below)
-- Weekly Timeframe --
