Longterm Idea for SPY
Markets are pretty spicy right now.
Lots of investors and traders at large institutions think that prices are "too frothy" and that a massive sell-off is inevitable. From a fundamental analysis perspective, I agree - but does that mean I'm going to short the S&P500 in the long term? Fuck no!
SPY is currently hovering at the top line of a VERY strong bullish trend. I think some natural retracement/sell off will occur, but all I see is a wonderful Long opportunity. I've never been a fan of using the SMI to short SPY. Just by looking at historical data on the chart I provided, you can see several instances were the SMI shows signs of potential bearish momentum, but SPY continues to hustle. Best advice: go with the trend and don't try to fight against it. Stick to the charts always.
Will update if I do see a crispy moment to enter a long position. For now, I'm sitting on my hands.
Happy trading!
Lots of investors and traders at large institutions think that prices are "too frothy" and that a massive sell-off is inevitable. From a fundamental analysis perspective, I agree - but does that mean I'm going to short the S&P500 in the long term? Fuck no!
SPY is currently hovering at the top line of a VERY strong bullish trend. I think some natural retracement/sell off will occur, but all I see is a wonderful Long opportunity. I've never been a fan of using the SMI to short SPY. Just by looking at historical data on the chart I provided, you can see several instances were the SMI shows signs of potential bearish momentum, but SPY continues to hustle. Best advice: go with the trend and don't try to fight against it. Stick to the charts always.
Will update if I do see a crispy moment to enter a long position. For now, I'm sitting on my hands.
Happy trading!
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