The S&P 500 (SPY) is forming a flag pattern and is poised to break higher. The market has been consolidating after a big expansion on Friday.
key levels to watch:
*If SPY breaks and closes above $413, we could see a quick move to $415. $415 will act as a resistance level, where we also have a bear gap fill.
*For the bears to regain control, they will need to do a lot of work and will probably need a hotter than expected CPI print.
key levels to watch:
*If SPY breaks and closes above $413, we could see a quick move to $415. $415 will act as a resistance level, where we also have a bear gap fill.
*For the bears to regain control, they will need to do a lot of work and will probably need a hotter than expected CPI print.
The S&P 500 (SPY) is forming a flag pattern and is poised to break higher. The market has been consolidating after a big expansion on Friday.
key levels to watch:
*If SPY breaks and closes above $413, we could see a quick move to $415. $415 will act as a resistance level, where we also have a bear gap fill.
*For the bears to regain control, they will need to do a lot of work and will probably need a hotter than expected CPI print.
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