SPY close analysis, 3/27/2023 -- Inverse head and shoulders?
Choppiness prevails. This is a premium sellers dream and a nightmare for swings.
Looks to me like the low is in for the short term cycle. Price never dipped low enough into the diag demand zone I projected on the 23rd for the bullseye target
Price seems to have found some support off the indecision zone today. I'm neutral-to-bullish until we lose 394.5.
In the *what if* crystal ball projections spirit, I propose a potential inverse head and shoulders, taking price into the >420 zone depending on completion date. Now THAT would be interesting.
Looks to me like the low is in for the short term cycle. Price never dipped low enough into the diag demand zone I projected on the 23rd for the bullseye target
Price seems to have found some support off the indecision zone today. I'm neutral-to-bullish until we lose 394.5.
In the *what if* crystal ball projections spirit, I propose a potential inverse head and shoulders, taking price into the >420 zone depending on completion date. Now THAT would be interesting.
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💎 Get my %R Trend Exhaustion indicator: bit.ly/prte
