Setup looks very similar to 2019-2020. From the lows we ran up and consolidated in a bull flag and the measured move of that flag was hit. Now in 2021, we have the same bull flag and a measured move of 460.
I haven't decided what happens at 460 yet, if it follows 2019-2020 then we will see a massive selloff into YE targeting 320-340.
If, however this does not materialize..I would expect them to push SPY close to 500ish into year end.
Keep an open mind either way.
I haven't decided what happens at 460 yet, if it follows 2019-2020 then we will see a massive selloff into YE targeting 320-340.
If, however this does not materialize..I would expect them to push SPY close to 500ish into year end.
Keep an open mind either way.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.