SPY closed back near important support zone last week. The PRZ of the blue Bat pattern.
The fact that the price couldn't stay above the Fast SMA line is a bearish signal for $SPY.
If 186-188$ won't hold as support, we might see January's lows being tested and the completion of a smaller Bat pattern near 182$
186-188- First Buy Zone to monitor - Will be relevant if the market will open in green.
182 - Bullish Bat pattern near January's lows
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Note
Yellow Bat pattern triggered last week's late rally. 188$ will be tested this week
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.