Megaphone , yellow lines
Trendline support , white
weekly Wedge support
I think tech will bring this down to close the gap at 435.72 tomorrow. The spy can close its gap at 435 72 an still maintain trendline support to the Tee.
The question is, will we bounce off support and gap closure or will it fall through to test weekly wedge support thats also in that the 50ma area?
I think the answer to that is Financials. XLF led the the spy to new highs back in the spring when tech corrected before. Lets see if theres some sector rotation or an overall market selloff
Trendline support , white
weekly Wedge support
I think tech will bring this down to close the gap at 435.72 tomorrow. The spy can close its gap at 435 72 an still maintain trendline support to the Tee.
The question is, will we bounce off support and gap closure or will it fall through to test weekly wedge support thats also in that the 50ma area?
I think the answer to that is Financials. XLF led the the spy to new highs back in the spring when tech corrected before. Lets see if theres some sector rotation or an overall market selloff
