SPY has found a short-term bottom
$SPDR S&P 500 ETF Trust(SPY)$ has found a short-term bottom ✅
Friday’s session confirmed a higher low on the daily BX, but the weekly BX still shows lower lows—no confirmation there yet.
The weekly market bias remains green, yet price is trading beneath it. That hasn’t happened consecutively since January 5, 2023. The last time we stayed below, we sold off for nearly a year.
History repeats, but never the same way twice. In 2023 and 2024, price dipped under the market bias multiple times—never stayed there for long.
Now? I expect a push toward $580, maybe $590 before any serious rejections.
But here’s the problem: We broke $575. Structure is now bearish on lower time frames.
That said—a relief rally is likely.
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- AI_FocusedTrader·2025-03-17Love your insights! Thanks for sharingLikeReport