SPY with a possible new channel

Looks like SPY breaks the support and will fall to 393 and will test its previous year long resistance flipped support line.
Its seats in megaphone pattern, which should be bullish, but....

Not

Not

I played the bounce, out at 396.40 (double top) fib.38 from yesterdays high. I expect double test at 393.70 then lets see

Not

I am reverting to my older chart where SPY felt out of uptrend channel and re tested support (previous resistance)
I think it will be a new downtrend channel .
I will stay on the side to see if its really that.

abigreen

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.

abigreen