October 30, 2019 admin

SPY long term analysis

Breakout alert!

The market broke the 302 marks to the upside as was our forecast from a week ago, it’s not an ideal breakout since it is not supported by high volume , BUT it’s a good setup , confirming our optimism for the market.
Risk exposure is slowly growing among traders moving the market up,
We maintain our next target of 325 for SPY . Expect a retracement to the 302 level as buyers remorse, and then a move to the upside (place stop loss just slightly below the old resistance levels in case this is a fake breakout).

SPY long term analysis by AlonHoresh on TradingView.com

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