Spy bounced at 0.382 retracement level (from Covid lows to ATH). There is a gap to be filled near 428, which is also a supply. It could either be 428 -> 395 -> 440 or 395 ->428 -> 440. 50 DEMA is at around 426 and 200 DEMA is at around 444. If 440 - 444 rejects , we are gonna see 372 and 360. If SPY breaks through 440 - 444, then David H Contrarian is gonna be very happy. It's gonna be a wild ride.
Yorum:
Played out perfectly. Check out my latest post on SPY