Posted in
Technical Analysis
By: Tom Gentile
on January 28th, 2022
Stock What Happens Now That We Are at Support Can Make or Break the Markets
I am using the charts on the SPY which is an ETF that tracks the S&P500 ETF SPX, and I am also using a chart on the “Diamonds” (DIA) which is an ETF that tracks the Dow.
I am doing this to highlight they are both technically testing price support. I would show the QQQ aka the Q’s which tracks the NADAQ 100 index, but it has already broken key support and tech has a bunch of concern to overcome but may get pulled up by the potential bullish bounce in the other indices OR if money flows back to tech that pulls the markets higher.
Support Needs to Hold, or Things Could get Uglier
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