SPY looking for a repeat: October
Well I think SPY might be able to pull off a repeat motion that replicates the movement of the last month.
I think fear is at extremes today the shutdown was confirmed.
A deal will end up getting made shortly and the market will start to rally once fear is gone.
The fed comes back into play at the end of October, we may see fear ignite again as the fed will be seen as a negative catalyst this time since the last meeting lead to a sell off.
We bounced on the Mother of all trend lines and I think it will be retested during or before the fed meeting.
If we get a hike I think that trendline breaks and we fall down quickly to test horizontal support around 414.
I think fear is at extremes today the shutdown was confirmed.
A deal will end up getting made shortly and the market will start to rally once fear is gone.
The fed comes back into play at the end of October, we may see fear ignite again as the fed will be seen as a negative catalyst this time since the last meeting lead to a sell off.
We bounced on the Mother of all trend lines and I think it will be retested during or before the fed meeting.
If we get a hike I think that trendline breaks and we fall down quickly to test horizontal support around 414.
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