Study this SPY chart and tell me what direction it about to move in?
Candles: Bearish
EMAs: Bearish but beginning to move horizontal for a squeeze
RSI: Bullish crossover after reaching oversold territory
MACD: Bullish crossover after dropping below the white zero line
Histogram: Positive above the zero Line
Examining past history of movements on this chart set up, I have no choice but to conclude the the trend will change to the upside. We do have fundamental factors to be weary of (i.e. News, Earnings, Manipulation) but TA wise, SPY is set to turn bullish on an hourly trend.
We will keep you posted. Thank you and DYOR.
Join Nexus Investments LLC and come trade with us!!! nexusinvestments.info
Candles: Bearish
EMAs: Bearish but beginning to move horizontal for a squeeze
RSI: Bullish crossover after reaching oversold territory
MACD: Bullish crossover after dropping below the white zero line
Histogram: Positive above the zero Line
Examining past history of movements on this chart set up, I have no choice but to conclude the the trend will change to the upside. We do have fundamental factors to be weary of (i.e. News, Earnings, Manipulation) but TA wise, SPY is set to turn bullish on an hourly trend.
We will keep you posted. Thank you and DYOR.
Join Nexus Investments LLC and come trade with us!!! nexusinvestments.info