All Eyes on the Down Trendline

All Eyes on the Down Trendline

With the exception of Monday, SPY has traded below trendline A. SPY has to break above trendline A and preferrably backtest and still stay above trendline A to indicate a short term bounce. The safest place to go long is when SPY breaks out above trendline A and then backtests the trendling.

But SPY may just sink lower from the start of the day and not look back. In this event I am hoping support at either 103.2 or 102 holds.

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