SPDR S&P 500 (SPY): The wedge is very long. This should be m...

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Re: letj21 post# 346399

Monday, 09/13/2021 12:55:09 PM

Monday, September 13, 2021 12:55:09 PM

The wedge is very long. This should be medium to long , but not very long.
very long meaning whoever played it got burned and don't/can't care , meaning wedge is less relevant to not really important anylonger.

Instead, let's focus on more important support if it breaks, the horizontal supports. The beauty of horizontal support is that resemble the best the price and action. Right now SPY is at support. Not an exact number but little area. Trying to go under.
Next area of support is 440.
All this no fancy ind.
No trendlines.

Another thing we can watch to trade are the areas of time-losing decay congestions.
The "fast" money are not in it, obviously, so...

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