AMEX:SPY
SPY is at a pivotal point.
Right underneath the upper parallel of this confirmed Pitchfork . (Purple)
This idea is conditional, only if price cannot manage to break out of the Primary Pitchfork .
IF..... If SPY can't break above the (Purple) Larger Primary Pitchfork , it's likely to head back down to the Median Line .
The (Yellow) Minor Fork shows the potential path.
The expected Target is at the Energy Point, $328.
Note: Watch for a decline that stops short of the Median Line . This could very well mark the bottom, and become the catalyst for a big rally. (Hagopian Gap)
Fat_Fat
SPY is at a pivotal point.
Right underneath the upper parallel of this confirmed Pitchfork . (Purple)
This idea is conditional, only if price cannot manage to break out of the Primary Pitchfork .
IF..... If SPY can't break above the (Purple) Larger Primary Pitchfork , it's likely to head back down to the Median Line .
The (Yellow) Minor Fork shows the potential path.
The expected Target is at the Energy Point, $328.
Note: Watch for a decline that stops short of the Median Line . This could very well mark the bottom, and become the catalyst for a big rally. (Hagopian Gap)
Fat_Fat
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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.
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.