$SPY $TSLA & MORE FEB 9, 2023

Bearish Harami on SPY & back in the wedge, bullish breakout setup on $TSLA

SPY 0.00%↑ back again in the wedge pattern after a breakout yesterday. It’s clear market is stalling perhaps for the CPI numbers. However the wedge is approaching it’s apex and we should get some type of move tomorrow or Friday. There was some DP for SPY recorded at 415.20, it appears multiple days of dark pool dumps are being registered behind the scenes.

Bears have been unable to get a close below 4100 on $ES_F, and that’s stopping us from selling at the moment. This can happen rapidly, but for now, we are in a consolidation phase between 4100-4200. It’s expected, after such a fast move from 400 to 418, that market would take a week or two to digest the move before the next wave.

On SPY 0.00%↑ there is technically a bearish harami with today’s daily candle, but it will need to confirm tomorrow for a valid short setup, possibly towards 406.61. You can read more about bearish harami here: https://www.learnstockmarket.in/technical/bearish-harami-candlestick-pattern/

I will focus on these levels for tomorrow: