SPY daily chart shows bottoming tail and intraday recovery; near-term resistance at 766.79.
Jump to any passage
So, let's jump into the S&P 500 where we see the daily chart here on the SPY uh ETF. Now, we see if you just isolate this one daily candle, guys. Doesn't that look like a bottoming tail on the chart?
Now, I know the rules of bottoming tales. It needs to occur at the bottom of the chart. We've got plenty of candles over here, but what a nice intraday recovery from the lows. And we see what happened last time we put in a candle like that, man.
We gapped up and rallied up higher. So, this was a really robust u not very big push higher in the markets, but as far as the sentiment, this was a good finish on the day recovering back where we are.
That makes me look near-term tomorrow at 76679 as the resistance.
What this channel has said about $SPY
Verified Investing has 20 calls on this stock; only the adjacent ones are shown.