SPY targets getting hit, what now?ðŊ
boost and follow for more.. thanks ð
October 9th SPY was at 428.77, I mentioned the trendline resistance from 2009 flipped to support in 2020 and 2022.
people need to realize how good that is for longs, they have had complete control since the 2022 bounce. I mentioned many times for many tickers how important a resistance = support pattern can be, you see it here again firsthand.
my targets mentioned in that October analysis have basically been hit, so I thought it was time for some updates!
daily timeframe:
RSI isn't even that overbought but we do have that local red trend resistance we continue to struggle with, so some short-term dip or more sideways is possible.
I do think we will see that push to new all-time highs once this is done though. SPY to 500+ is not out of the question, the only question now is how soon? more updates soon... boost and follow for more as always. ð
October 9th SPY was at 428.77, I mentioned the trendline resistance from 2009 flipped to support in 2020 and 2022.
people need to realize how good that is for longs, they have had complete control since the 2022 bounce. I mentioned many times for many tickers how important a resistance = support pattern can be, you see it here again firsthand.
my targets mentioned in that October analysis have basically been hit, so I thought it was time for some updates!
daily timeframe:
RSI isn't even that overbought but we do have that local red trend resistance we continue to struggle with, so some short-term dip or more sideways is possible.
I do think we will see that push to new all-time highs once this is done though. SPY to 500+ is not out of the question, the only question now is how soon? more updates soon... boost and follow for more as always. ð
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make or break zone ahead of FOMC, bounce here and we head back to highs
close below 485 and the dip continues! GLTA
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SPY continues to hold my trend support zone mentioned in recent charts, next break past 509 area sends us much higher IMO
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