SPY forming a diamond top looking to breakout next week
SPY is creating a diamond pattern on the 1 hour. It is looking like we may break to the upside and meet the overhead resistance but we could always drop and make a higher low.
I think the consensus is that the fed will deflate the market in mid December with more rate hikes and tampering the pivot expectation.
It is possible if the consensus is too strong that we just sell off early.
I am going to watch how this diamond breaks, overall I am more bearish than bullish.
Hope you enjoyed my artwork
I think the consensus is that the fed will deflate the market in mid December with more rate hikes and tampering the pivot expectation.
It is possible if the consensus is too strong that we just sell off early.
I am going to watch how this diamond breaks, overall I am more bearish than bullish.
Hope you enjoyed my artwork
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