WEEKLY SPX/SPY UPDATE

8 May 2022

SPYSPX

Whats up everybody! hope everyone had a good weekend and also happy mothers day!

taking a look at the SPY/SPX here again as i do every Sunday to prepare for the week ahead

looking at the chart i could easily see us going down to test the 400 level for the SPY

Thats where the gap fill is and we are already so close to this level it just makes the most sense that we would at the very least come down to finally fill that gap.

not much else to really report. Just more of the same as the markets continue to sell.

no signs of a reversal yet and i do see some more downside potential as a whole.

let me know what you think in the comments. and good luck to everyone this week!

happy trading
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