SPY at Critical Resistance (1.618 Fib @ 415)

20 Nis 2021

The 1.618 Fib (415) is holding up as resistance for now. SPY is sitting at a 414 handle, and is notably below the upper band of the ascending channel, as well as the 21EMA (h). We've caught light support at the 50MA (h) on the open, but as of this moment, it's not looking good for the bulls. If sentiment remains shaky, the house of cards may finally come crashing down...