SPY BEAR SIGNALS

27 Kas 2023

Based on heavy technical analysis of SPY and the major companies of the big 7 a downtrend is coming up over the next month or so. SPY had a breakout from an uptrend around the 454 level where it has reclaimed the final imbalance I spotted. These technical signals along with multiple market condition indicatons have signaled a slowing of momentum, likely into a reversal. I’m expecting a period of consolidation that may last a couple weeks before beginning a down trend to at least the 430 level.