I've been watching SPX/SPY very closely to see which direction it decides to go through the rest of the year. We are at a VERY IMPORTANT range. Initially the top trend line acted as resistance and short bias looked to be validated with the reject of the 0.681 golden zone. You can see a bounce off the shorter term long bias 0.681 retracement almost perfectly from this years low. Short term long needs to hold 0.618 for us to see retest of highs trend line. This will be the best entry point for short position into the rest of the year as a retest to break out of channel is going to likely reject. Ultimately SHORT bias long term, potentially LONG bias short term.
Short Term PT $420
Long Term PT $334
Short Term PT $420
Long Term PT $334
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