SPY Top?
*** NOT INVESTING ADVICE***
After taking a look at some of the current monthly charts on the SPY and comparing with some other stocks from within. I believe we may have topped out and are due for a correction potentially targeting the 485 area. I am seeing bearish divergence on th3e daily, monthly, and 3 month charts.
Tech earnings continue this week and could send us lower fast if they come in hot. with my eyes on
AAPL in particular. A miss from this company could send us lower, along with 
AMD this week as well.
FOMC: as for rate cuts, I believe that we will hold steady once again, and will be postponed potentially till Decemeber to reach the 2% area that JPow speaks about. The last inflation reading showed inflation on the rise again but time will tell.
*** THIS IS NOT INVESTING ADVICE***
Good luck Trading!
After taking a look at some of the current monthly charts on the SPY and comparing with some other stocks from within. I believe we may have topped out and are due for a correction potentially targeting the 485 area. I am seeing bearish divergence on th3e daily, monthly, and 3 month charts.
Tech earnings continue this week and could send us lower fast if they come in hot. with my eyes on
AAPL in particular. A miss from this company could send us lower, along with AMD this week as well. FOMC: as for rate cuts, I believe that we will hold steady once again, and will be postponed potentially till Decemeber to reach the 2% area that JPow speaks about. The last inflation reading showed inflation on the rise again but time will tell.
*** THIS IS NOT INVESTING ADVICE***
Good luck Trading!
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