7/31 SPY
From a candlestick point of view, this chart doesn’t look so good. However, considering that we failed to move below the previous high today, we could be consolidating below the falling trendline and rising trendline cross, to gather strength for a pop.
The short term move should depend on the FED and ECB.
On the 1h chart we appear to be forming a bull flag, which would predict higher prices ahead, but we have to break the trendlines first and close outside for confirmation.
