At The Top of The Run? An Update on the S&P 500 ETF - SPY

 "To fly we have to have resistance."

- Maya Lin


SPY D 1 June 2022
Price is trying to make a decision at Support turned Resistance in the form of TAOST Balance Zone and TAOST Context Channel. Due to recent behavior and principles of Support & Resistance, I suspect price will begin reasserting the most recent direction [down].

What I really like about this pattern is if you're experienced enough to get short, your stop loss level is both close and readily apparent.

Any clue what that is?


You might also like: