$SPY: Failed Breakout, Death Cross Still in Place, Volatility Is Rising

jfsrevg
10:37

Another failed breakout attempt for $SPDR S&P 500 ETF Trust(SPY)$ .

The 20-day MA remains below the 10-day MA, keeping the death cross in place. Yesterday's rally ran into resistance at the declining 20-day MA, and today's sell-off exposed the weakness behind that rebound.

ATR-based volatility has also expanded over the past two weeks. I believe we're transitioning into a more volatile, two-sided market, with sharp rallies and sell-offs alternating across sessions.

Expect larger percentage swings, but within the broader downtrend channel.

Don't mistake a strong futures bounce for a confirmed trend reversal. Even if futures are up more than 1.5% tomorrow, as they were yesterday, that alone isn't a reason to chase swing-long setups.

Stay disciplined and wait for confirmation.

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