SPY in the long term is looking to be touching resistance
- The bull run in 2020 was nothing more than a massive false breakout caused by artificial juicing of the markets by the FED and GOV.
- From long term perspective, we see that SPY is current at the top of its regular trading range that was set back in 2009.
- There has been a few false breakouts above and below the trend since 2009
- The is showing the support and resistance trend lines are spreading appart over time indicating the market is clearly getting more volatile as time goes on.