Looking at Daily chart for SPY notes the 09Nov2020 SuperTrend BUY signal is still in play. The Ichimoku Cloud is green and price action seemed to use the Senkou span A line as support on 29Jan2021 and 26Feb2021. While SPY closed today down 3 points it was well inside yesterday’s action and stays in the middle of its upward channel, while remaining above the 13HMA.
Not pictured: the MACD and momentum is in a negative slope while no building pressure noted in the squeeze indicator.
With bonds posting negligible movement today, expect to see small movements in the SPY (but still in general upwards direction) for as long as the government keeps printing and buying.
SPY
Not pictured: the MACD and momentum is in a negative slope while no building pressure noted in the squeeze indicator.
With bonds posting negligible movement today, expect to see small movements in the SPY (but still in general upwards direction) for as long as the government keeps printing and buying.
SPY
