Neutral 1h read on SPY:
**Structure:** Price is trading inside a well-defined descending channel since the high near 780. You have a series of lower highs along the upper trendline and lower lows - classic downtrend structure on this timeframe.
**Recent action:** After the bounce to ~774 that failed at the upper trendline, price broke back below it and has been stair-stepping down. The last 3 sessions show rejection near 767 and now price is pressing the lower boundary of the channel.
**Momentum / Volume:** RSI / momentum line in the lower panel has rolled over from the 60s and is trending lower in the 30s, showing weakening momentum, not strength. Volume spikes lined up with the impulsive down moves on the 14th, 19th and 22nd.
Context is still bearish structure within the channel, now testing the lower edge where reactions commonly occur.
Not financial advice.
**Structure:** Price is trading inside a well-defined descending channel since the high near 780. You have a series of lower highs along the upper trendline and lower lows - classic downtrend structure on this timeframe.
**Recent action:** After the bounce to ~774 that failed at the upper trendline, price broke back below it and has been stair-stepping down. The last 3 sessions show rejection near 767 and now price is pressing the lower boundary of the channel.
**Momentum / Volume:** RSI / momentum line in the lower panel has rolled over from the 60s and is trending lower in the 30s, showing weakening momentum, not strength. Volume spikes lined up with the impulsive down moves on the 14th, 19th and 22nd.
Context is still bearish structure within the channel, now testing the lower edge where reactions commonly occur.
Not financial advice.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.