SPY Possible Double Bottom with Major Trend Line Support
SPY looks like it may have bottomed after reaching the December 2018 low and major trend line support.
If investing long term, this might be a good area to start accumulating. Obviously with the news as bad as it is, it's hard to imagine this being the bottom, but bottoms are rarely formed on good news.
Please see my related idea below for where I called the top of SPY by using a single trend line on the monthly chart.
If investing long term, this might be a good area to start accumulating. Obviously with the news as bad as it is, it's hard to imagine this being the bottom, but bottoms are rarely formed on good news.
Please see my related idea below for where I called the top of SPY by using a single trend line on the monthly chart.
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.
