$SPY on 1hour Pullback/ Quad witching prediction

17 мар. 2023 г.

SPY on 1hour Pullback

SPY to potentially touch next target of new support $387.48
SPY did touch previous support marked on my chart from yesterday afternoons charting as noted of 1st support.

I do think spy has potential to still pull back more especially since today is what we consider quad witching if you were in the stock market around 2020 or before.
Many may know it as now effectively as "triple witching" which occurs on the third Friday of March, June, September, and December.
Equity trading volume tends to rise on these days and is typically heaviest during the last hour of trading as traders adjust their portfolios.
I am expecting a red close.

What are your thoughts?
Comment below.

P.s. Happy St.Patricks day traders! :)
-Kelly