SPY Puts back to where it belongs
I want to make this short and sweet. Smart money is simply not buying here.
Let's take a look at the RSI level on the 4 hour chart. I have circled every area that the RSI has been at these levels in the past.
See the correlation of price action shortly after. Sure I am a long term bull and the March dip is over.... but we ripped a little too far too fast.
As the megaphone is running out of room, I do believe for the short term we will stay inside of it. I will remain bearish until the 401 gap is filled. It may not be next week or the week after but it will get filled.
Let's take a look at the RSI level on the 4 hour chart. I have circled every area that the RSI has been at these levels in the past.
See the correlation of price action shortly after. Sure I am a long term bull and the March dip is over.... but we ripped a little too far too fast.
As the megaphone is running out of room, I do believe for the short term we will stay inside of it. I will remain bearish until the 401 gap is filled. It may not be next week or the week after but it will get filled.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.