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SPY is at present buying and selling roughly round $410.90 proper now inside this symmetrical triangular formation on the 4-hour timeframe With that, we’ve bounced off of assist three-time (indicated by the inexperienced containers) and rejected twice (indicated by the purple boxed) from August of 2022
As we’re nearing one other peak (purple field) round $412 we noticed a big wick right this moment after the market opened up extremely inexperienced following the CPI report then falling again down as a consequence of rejection and priced-in actions, and so on.
I'm bullish for a swing on potential SPY calls as long as it will probably shut a 4h candle above the highest white line round $412.50 – $413 and bearish if there may be sufficient proof that it closes beneath the highest resistance strains with a Bearish PT of $406 quick time period
https://preview.redd.it/afzj8z39uhta1.png?width=3208&format=png&auto=webp&s=38a3faad780d32143e0ff1f44f901ed735a072f6
submitted by /u/wojacktrades [comments]
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