SPY is back near the top of its upward channel, a strong resistance.
Every time this happened since 2011, markets dropped 10–27%.
Still trending up, but this setup doesn’t look great.
Since the April low, SPY is up 30%, short-term trend is stretched and vulnerable.
Every time this happened since 2011, markets dropped 10–27%.
Still trending up, but this setup doesn’t look great.
Since the April low, SPY is up 30%, short-term trend is stretched and vulnerable.
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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.