IS SPY ABOUT TO CRASH? POSSIBLY WORST THEN LAST TIME!
I noticed that the pattern SPY has been forming, and it has been following the MAs, (the 200MA, and 50MA), very similarly to back in late FEB. before the crash. The Stoch. RSI action look to be adding up as well. This time just looks bigger in scope because when I measured the time and price range, then doubled it, the fit was pretty much perfect when I put the box over on the SPY chart in the location it would have been in during the last crash. I have everything laid out on the chart, along with description boxes. If SPY bounces back on Monday, then I would be weary and just keep a close eye on it and the market as a whole. I didn't have time to go over more charts, which I plan to later but judging by the recent decline in the marker, I'd be willing to bet when I check the indexes, and overall market that the charts are also showing similar behavior. I do not believe that this "crash", will be as bad in terms of how far down prices drop, I just believe that it will be longer drawn out and less drastic in the sense that it's not going to happen over a couple weeks. More like over the next month. I'm referring to the overall market in those last few comments about the drawn out "crash"/down-trend. The time and price range for my prediction of SPY's "crash", is on the chart, and shows the numbers above the box. As for what I think I'm going to do investment wise, if this play out and SPY bounces back up and looks to be following the path I think, then I'll perhaps start taking some short positions. If not, I'll just be conservative for a while to make sure I was wrong before I let my guard down.
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