“Sami Abusaad & James Young: How to Become an Elite Trader”
SPY is expected to form a higher low and move up later due to the sustainability of the recent breakout.
Probably the spy spy will move up. If you look at the the the S&P 500, this was a really bullish move. So, yeah, we we got a breakdown today, but do I believe it's going to lead to a long-term bearish stop?
I don't think so. Because of that breakout that we got, we're still inside of that breakout. And notice how the breakout formed. We initially got a breakdown. So, everybody went short or sold their positions and then we went exploded higher.
That's that's usually sustainable. So, whatever happens here, we should end up with a higher low and end up moving up later on. Maybe might take a while because this ends up being like a rounded top, bearish top. But, uh, we'll see.