Asphen
2023-02-07

Near term sell channel vs Mid term buy channel, who will win?


- Buy channel existed since the MA5 crossed MA20 (20 Oct 2022 and 10 Jan 2023 (Note again that MA lines cross are just trend indicator, not trade indicator)

- Past days has also formed a managed sell channel 

- Both will overlap soon and also happen to be the golden pocket (defined by fib 61.8 and 78.6)

- Support likely to be quite strong around 405/407

- Breaking below would mean a likely full re-trace to 402


- Key level of support remains at 390/392

- Key level of bullish rally remains at 420/430

@TigerStars  @CaptainTiger  @LMSunshine  @melson  @Deposit  

$SPY(SPY)$ 

# Technical Analysis

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Comment（30）

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  • melson
    ·2023-02-07
    pivot guys lost momentum. meme guys party like crazy.
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    • melsonReplying toAsphen: 
      [Happy]🥂✨
      2023-02-07
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    • Asphen: 
      yup. however, as they say, meme (or risk on) are also drivers of a rally  😉
      2023-02-07
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  • CaesarHicks
    ·2023-02-07
    More bullish trend is coming soon.
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    • Asphen: 
      Nice.
      2023-02-07
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  • BarbaraWillard
    ·2023-02-07
    I think bullish trend is still exist in mid term.
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    • Asphen: 
      thats good
      2023-02-07
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  • LMSunshine
    ·2023-02-07
    Appreciate the updates buddy, keep posting❣️
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    • Asphen: 
      thank you
      2023-02-07
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  • jethro
    ·2023-02-07
    thanks for sharing
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    • Asphen: 
      you welcome
      2023-02-07
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  • FrankRebecca
    ·2023-02-07
    The next level will be 420 in my mind.
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    • Asphen: 
      that's a good level.
      2023-02-07
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  • Bullcowox
    ·2023-02-09
    Good
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  • Fongtf
    ·2023-02-08
    Ok
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  • WendyK
    ·2023-02-07
    Ok
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  • Residue
    ·2023-02-07
    👍🏻
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  • Aoyjai
    ·2023-02-07
    Patience
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    • Asphen: 
      indeed
      2023-02-07
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  • Bentofighter
    ·2023-02-07
    Ok
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  • ChrisLiew
    ·2023-02-07
    nice
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  • Niskil
    ·2023-02-07
    Good analysis
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    • Asphen: 
      thank you
      2023-02-07
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  • BlueBear
    ·2023-02-07
    Ok
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  • VonCat
    ·2023-02-07
    thanks
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    • Asphen: 
      you welcome
      2023-02-07
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  • DMC8
    ·2023-02-07
    Tks
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  • D.Billions
    ·2023-02-07
    ok
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  • Howieeeee
    ·2023-02-07
    Alright
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  • Moneyong
    ·2023-02-07
    Ok
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