SPY testing key resistance levels

19 ก.ย.

SPY today broke its resistance level set back in July after processing the rate cut. Other worrying signs to emerging though

• shorter term resistance is breached to the upside
  
• Longer term resistance line show SPY is back to pushing the limits trying to break above
  
• Last time we experienced break above long term resistance in July it was followed by steep sell off in August
  

We should not be celebrating and jumping in on SPY just yet, looking like its poised for another correction. It is September-October after all.