Is it in the blue falling wedge?
Or is SPY in the green descending channel?
One comment turned me over to the idea that it was a green descending channel.
If so, then my thesis for us possibly reaching up to 448 holds (well... that line is declining since last week so now 445 and declining each day).
If not and this is a blue falling wedge, this can be short term resistance.
We shall see!
Regardless, I'm still bearish into March opex and beyond.
Short term, we can go up 10-12 more points on SPY, but I don't see much more after.
Best of luck traders!
Small leverage! :)
Or is SPY in the green descending channel?
One comment turned me over to the idea that it was a green descending channel.
If so, then my thesis for us possibly reaching up to 448 holds (well... that line is declining since last week so now 445 and declining each day).
If not and this is a blue falling wedge, this can be short term resistance.
We shall see!
Regardless, I'm still bearish into March opex and beyond.
Short term, we can go up 10-12 more points on SPY, but I don't see much more after.
Best of luck traders!
Small leverage! :)