Expecting Upside on $SPY

The whole sloppy, overlapping mess that is $SPY‘s recent price action (orange ellipse) virtually guarantees that it is corrective rather than impulsive, meaning that we should eventually expect higher prices.

If we are close to a local bottom, we may expect a move to the orange target box above.

SPY


[UPDATE]: Since what I was looking for was the short-term rally pointed to below, and since I got it, I will file this under “Successful Calls.”

SPY


Note: When my work is first published on this website, it is made available to patrons who support my work through my Patreon account. Over time (usually after a period of a few months), I make the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page.


Leave a Reply

Your email address will not be published.