SPY: strong bullish pitchfork analysis

SPY reached the middle of one pitchfork and the bottom of another pitchfork. From here, it looks up. This is based on technicals only and fundamentals may obviously affect the market beyond that.

Trade chiuso: obiettivo raggiunto:

It seems SPY will continue to fall and test the bottom pitchfork line. At that point, it may bounce off up from the pitchfork or could even break through on the down side. At this point, I'm bearish on SPY in the shorter term.

Commento:

Last SPY close is 431.50 up from 427.48 (when I posted the bullish idea).