Playing field $SPX $SPY


Here are some charts of S&P500/SPY. The daily charts shows the previous marked areas I was watching.

Price action has been to the downside for almost lats week, breaking on Thusrday the simmetrical triangle I was watching for a possible resolution.

Key levels are still the ones marked 115.20 as resistance and 112.50 as support. I would go one level further around the 116.10 are as trendline resistance and 110´s as an important support.

I am posting both the current and previous marked charts so the areas I´m ewatching can be clearly noticeable.

On a longer term perspective, the month has just ended and is showing  20EMA on monthly chart of S&P500 is pointing clearly to the downside, which might increase the downward bias, provided the market closes below it.


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