Is the SPY about to correct ? AlphaOverBeta Market Outlook
Hello traders,
The market continues to fly high without looking back , this is supported by a number of important factors such as the positive messages from the white house and china regarding phase I agreement and the future of the trade war, strong economic numbers , and some technical factors as well.
as we can see in the chart, the RSI has reached a peak above 70, this means that we are again slightly overbought and the market is about to face some range trading soon, this is a healthy move by the market as it prepares for a charge at our next milestone which is 345
This is the perfect market to cherry-pick investment assets as this market hides the real gems that may fly as the market stays in consolidation mode.
Trade Safely,
Alon (AlphaOverBeta)
The market continues to fly high without looking back , this is supported by a number of important factors such as the positive messages from the white house and china regarding phase I agreement and the future of the trade war, strong economic numbers , and some technical factors as well.
as we can see in the chart, the RSI has reached a peak above 70, this means that we are again slightly overbought and the market is about to face some range trading soon, this is a healthy move by the market as it prepares for a charge at our next milestone which is 345
This is the perfect market to cherry-pick investment assets as this market hides the real gems that may fly as the market stays in consolidation mode.
Trade Safely,
Alon (AlphaOverBeta)
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.