Chart is now March ’25 contract.
Recap – Significant Selling (red) was marked four times in the days prior to the sharp decline on 18th. I wrote on 10th Dec that ‘Sellers are in Control of ST‘. At the start of this week, price relative to 6022 is important to monitor – as I wrote on Thursday ‘A dip like this in a major uptrend can be a buying opportunity, but I would want to see Significant and Effective Buying activity (green) marked above 6022 before considering new longs.‘ Major trend is blue ma above red ma on the SPY weekly chart, as shown.
