SPY A rip on decreasing volume

19 Haz 2019

SPY A rip on decreasing volume . A breakout on minimal volume , followed by a ride down the trendline . Overbought on every indicator. Stopping just below a top from a previous bounce.

Everything is calling for a false breakout.

However, I'm keeping my options open. A firm breakout of the yellow line indicates a ride up to 296. Otherwise, this bounce is over. Expect an open red or a short rise followed by a devastating retrace.

Still LT Bearish