업데이트됨

Triangle on the Daily SPY. Range Until July

I would like to propose a view on the market that I do not see anybody talking about and that is a range bound symmetrical triangle on the daily. Because price is now range bound, I expect price to be choppy and random. Will be harder to determine the direction. I still have a bearish bias and think SPY is headed to 260 minimum.

Out of the break out, price can retest 480 to form a double top for the real dump or as a continuation of the bearish move back to 260.

노트

The monthly chart of the SPY is telling me of a bearish continuation to 260 or a double top to 480. You can't have a bull run for 15 years without a major correction.

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The down trend line is no longer valid and has since evolved into a triangle

노트

On the Russell 2000, we have a down channel with price under a curling 21sma monthly average. That also coincides with the SPY with its slight bounce before a drop