hi guys my weekly TA on the S&P500
Ticker: SPY
TA: Short Term Neutral
Long Term Bearish
Why? in the short term i am feeling neutral because the RSI and MACD seem to be Rising (macd getting ready for crossover) but it looks like its caught in a descending Triangle
two things can possibly happen it falls below support or the triangle fails and the S&P500 will go on higher and challenge resistance (important soon) that's short term: neutral
im bearish long term because even if triangle fails and SPY goes up it forms a descending Triangle ( may have got that wrong?
in conclusion be careful guys it may gain this week but it will fall!!
Ticker: SPY
TA: Short Term Neutral
Long Term Bearish
Why? in the short term i am feeling neutral because the RSI and MACD seem to be Rising (macd getting ready for crossover) but it looks like its caught in a descending Triangle
two things can possibly happen it falls below support or the triangle fails and the S&P500 will go on higher and challenge resistance (important soon) that's short term: neutral
im bearish long term because even if triangle fails and SPY goes up it forms a descending Triangle ( may have got that wrong?
in conclusion be careful guys it may gain this week but it will fall!!