$SPY TOP 20
Added 2023-09-26 19:48:33 +0000 UTCIs also making its way to the 200 Day MA and has the yellow trend line to deal with first, so this is why we set the bounce level between the trend line and the 200 Day MA which is at $419 and $427 and right now we are at $425.
So as I said at the weekend, $SPY would be a great addition to anyone's portfolio if they intend to hold long term, so start looking for support above the 200 Day MA, especially in the bounce area I have shown on the chart.....Sept is over in a few more days and this is showing that there are only a few more days of decline left too.
RSI is at 26 right now, every time the $SPY goes below 30, it is met with a bounce shortly afterwards.
