SPX / SPY - Bear Flag - Retest 3130 Before Descent

5 ธ.ค. 2019

SPX is forming a Bear Flag on multiple time periods (easier views are 1Hr or less).
I added a Aqua colored channel to the chart, as it appears this last support was not retested.
For this reason with the Bear Flag combination, I see we continue down by Friday if not Monday next week.

While the SPX is forming a Bear Flag, VIXY is forming a Bull Flag.
This inverse relationship is also an indicator to me that the patterns will continue.

Exits
Exit 1 - Dark blue line around SPX 3020 or SPY $302
Exit 2 - White support line at bottom, but is more to occur in 2020.

Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, and VIXY.
Short SPY and AAPL.

5 ธ.ค. 2019

บันทึก

youtube.com/watch?v=2eHHdTunZb4
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