Switching to SPY: Will it hold?
$SPDR S&P 500 ETF Trust(SPY)$ - The prognosis during the weekend was: "Potential short lived bounce incoming, in an overall bearish landscape", and once again price action is following the Weekly Compass' script🎯.
Shooting stars are significant warnings, for that reason $5984 had to be consolidated to consider a safe zone for longs in $.SPX(.SPX)$ , and it didn't happened.
Switching to SPY: $588 is providing temporary support, will it hold? The bearish red candle has volume validation, and the 50DMA has been breached.
$Cboe Volatility Index(VIX)$ : +11%, probably nothing.
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- KSR·2025-01-08👍LikeReport