I want you to look at my RSI. The yellow trendline represents the resistance. I circle in green the 3 times the SPY has broken through that resistance; Each break out was push FWD with a major pattern.
Sept 2021 (Inverted H&S)
Feb -March 2022 (Double bottom)
June 2022 (Triple bottom)
I'm saying that to say this , we need A major pattern to break out this time for a sincere bear market rally.
Currently we are sitting right outside that yellow channel , if we fall back inside we're going straight to 356....
After the pattern is formed we'll need a catalyst (News).. until then Stay 🐻
Sept 2021 (Inverted H&S)
Feb -March 2022 (Double bottom)
June 2022 (Triple bottom)
I'm saying that to say this , we need A major pattern to break out this time for a sincere bear market rally.
Currently we are sitting right outside that yellow channel , if we fall back inside we're going straight to 356....
After the pattern is formed we'll need a catalyst (News).. until then Stay 🐻
