Jul. 13 at 2:42 PM
$SVIX
There is only one question to ask...
Is the current move simply a retest of support, or is the wedge about to resolve with a break below?
There is no other question.
The bullish case for
$SPY is a successful support retest followed by another push higher as the wedge continues to mature.
The bearish case is a failed retest, with macro headlines and geopolitical uncertainty adding downside pressure.
Also watching
$VIX and
$QQQ for confirmation. If volatility expands while growth stocks weaken, it could strengthen the bearish scenario. If volatility fades, risk appetite may return.
The next setup is already taking shape. Stay connected.
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