Jul. 2 at 5:20 PM
$SPY >> look at the weekly chart....
can't get too crazy bears until this chart breaks down
right now this is a pullback while the daily, monthly and weekly charts are still in an up trend........
basically the June pattern is telling us it will be risky to stay short over the long weekend
would need to break below the middle BB and close below that level on the daily chart......right now the market including
$QQQ is at major support
is this the start of a big correction or will the market bounce around in this zone 1st???
everyone knows July is one of the strongest months of the year, so they could be using that exuberance to test bulls 1st.....
Lots of people saying a big pullback is coming including ,
$BAC,
$JPM, and Steven VanMeter / he's sold all of his long positions and the guy is usually right...........<
