SPY Downside Target 240 In Coming Weeks
The massive technical damage done at the end of the year 2018 was not insignificant. Too many people buy into the idea that the sell off was over done. If you look at a long term chart, however, we have not even made it to the level we were at when Trump was elected. My only point to saying that is that we have run a very long ways in just a few short years, therefore, a continued pullback would not be out of the question, especially sinse we bounced so quckly from the december lows. This suggests to me that we are still in a bear market, and this rally was mearly a correcton and not a reversal of the trend. Price target in the coming weeks is 240.
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