Decisive SPY Downswing I Called For
S&P 500 did the awaited break of 4,245, kissed that level from below, and continued straight down through 4,225 while stopping at my 4,209 level. Much, much to rejoice by all clients, whether swing trading readers of my articles, or the intraday ones in our Telegram channel as regards both S&P 500 and DAX. Also today you have plenty to look for from both of us.
I see a corrective upswing in stocks unfolding today, and will keep covering for clients live. Let me just direct your attention to both the unemployment claims and advance GDP lending some support to the soft landing is here narrative.
See the chart section for more of the usual 360 degrees analytics. details
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Just a two chart reminder of what was the price action on 4H TF looking like, and how it fit my calls for a price decline to resume shortly.
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Gold, Silver and Miners
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Gold and silver are slowly gathering breath, and the rally continuation won‘t probably happen today as per buyers‘ imagination. Patience still required, for a catalyst.
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