$SPY the outlook 👁🗨
Updated
*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management
Recap: Bitcoin along with the US market should take a decent hit sometime this week due to the continuation of strength in the US dollar. Bear-Index's, the dollar, and energy appear to be where the money will be flowing during this period if this does play out. This would lead to a temporary slowdown in the growing Chinese economy and allow it to retest support.
What's neat about this chart is that everything besides the arrow and the text was done months ago. It's really neat whenever our previous works help us determine the possible trajectory of the market.
!! This chart analysis is for reference purposes only !!
If you want to see more, please like and follow us SimplyShowMeTheMoney
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management
Recap: Bitcoin along with the US market should take a decent hit sometime this week due to the continuation of strength in the US dollar. Bear-Index's, the dollar, and energy appear to be where the money will be flowing during this period if this does play out. This would lead to a temporary slowdown in the growing Chinese economy and allow it to retest support.
What's neat about this chart is that everything besides the arrow and the text was done months ago. It's really neat whenever our previous works help us determine the possible trajectory of the market.
!! This chart analysis is for reference purposes only !!
If you want to see more, please like and follow us SimplyShowMeTheMoney
Note
We may get a 4th of July rally. A very short-lived rally we believe. We will have a clearer picture by Wednesday of next week. So far, we see Thursday and Friday being very red for the market. This is only speculation of course.Note
This scenario could play out in August. July is typically a bullish month, golden opportunity for shorts to take profits on puts and reload once we finish this bullish cycleNote
Support may get touched by the end of the week.Note
Support will get touched next week by the looks of things.Note
Our resistance on this chart is $3958.35 and the market closed today at $3959.89. Coincidence? We think not.
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