SPY down again, normal to get a Higher Low
Not all down days/weeks are bad, some are necessary.
It appears we are at the juncture, where the weekly candlestick pattern is bearish. very clearly bearish. so we are likely heading for a down week.
MACD is indicative, so is the daily candlestick. Can expect an early to mid-week down draft.
Overall, looking into a end of year low, but a higher low, of about 375.
VolDiv indicator is telling of a bottoming consolidation formation.
Having said that, the longer run into 2023 should be bullish, and that remains to be seen. It is expected, and projected, but not yet seen the roots of it. Just need a higher low on the weekly chart now.
It appears we are at the juncture, where the weekly candlestick pattern is bearish. very clearly bearish. so we are likely heading for a down week.
MACD is indicative, so is the daily candlestick. Can expect an early to mid-week down draft.
Overall, looking into a end of year low, but a higher low, of about 375.
VolDiv indicator is telling of a bottoming consolidation formation.
Having said that, the longer run into 2023 should be bullish, and that remains to be seen. It is expected, and projected, but not yet seen the roots of it. Just need a higher low on the weekly chart now.
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