SPY as we anticipated, rebounded from 331 after retracing from a high of 358.75. Where is it heading now?
As you can see from the charts, it went to 62.5 % retracement with 135 degrees down from 358.75. So, I expect at least 67.5 move upward which will be around 372 area
Recently, there has been talks about technology being not bullish. I looked at XLK and seems to be confirming that
If you look at the chart above, it reached 37.5 retracement and has started rising. If we look at gann angles, from the low of 111.52 it can go to 122.52 at 90 degrees which is a major resistance. This coincides with 75% retracement ( a move of 37.5). After touching 122.52, I see XLK moving to 101. I may be wrong but there is a good possibility of this happening
In today picks, AAPL seems to be moving upward to 125 before retracing back to 100.
Wish you a profitable trading day !!!!