$SPY Bounce Then Drop? $META Weak, $NFLX Looks Like a Trap
$SPY is holding a key support zone but likely faces a short-term bounce before another leg lower.
$META is breaking down in line with a bearish long-term view, while $NFLX’s rally looks like a classic lower-high trap within a broader bear cycle.
1. $SPDR S&P 500 ETF Trust(SPY)$
Strong support here for $SPY
My expectations stands.
Most likely short term bounce, followed by another sell off
Hope I’m wrong 🤞
$SPY right back down to test liquidity zone support again
Going to get REAL ugly if this level is swept.
Bulls still hold it for now 👀
2. $Meta Platforms, Inc.(META)$
Back in January our long term model stayed off the bull side for $META.
Now it is breaking down in line with that view.
When the long term model flips, we will add $META back to the trading list.
3. $Netflix(NFLX)$
I still see this $NFLX bounce as a retail trap.
With the Monthly BX red and a Bear Cycle in play, most bounces turn into lower highs and further selling.
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