The SPY will continue to go lower at least until December
Updated
Looking at my previous posts, I was predicting the SPY to go lower. But this chart shows what I think will be the shorter term moves in this downward trend.
The SPY started in a channel around August and will continue until at least December. After that I suspect in will move up in the new year, but we will have to wait and see.
I have a previous chart where I predicted the SPY going all the way down to 279 whereas this chart predicts the SPY going to around 397. My short term theories and not matching with my long term theories right now so I still have to do some more calculations.
The SPY started in a channel around August and will continue until at least December. After that I suspect in will move up in the new year, but we will have to wait and see.
I have a previous chart where I predicted the SPY going all the way down to 279 whereas this chart predicts the SPY going to around 397. My short term theories and not matching with my long term theories right now so I still have to do some more calculations.
Trade closed manually
The market is not going as I predicted. I may reopen the trade if the market changes.Trade active
I am going to reopen this trade. I do believe the pattern will still be the same but there will be less up and down movements. Looking at the charts again, I think I am off by a week. The market is going to trade sideways until Nov 1st (approx), then it will start moving up again until approximately Nov. 10th. After that, it will move downwards until the week of Nov 20th, just before US Thanksgiving. After the holidays, the market will move up again until Dec 12th or 13th (the date of the Fed meeting). After the Fed meeting, the market will move downwards until Dec 21st (just before the Christmas holidays).
After the Christmas holidays, the market will go up again peaking at the beginning of January. Depending on where it peaks in January will determine if the market goes up or down after Martin Luther King Jr. Day, which is a USA holiday.
I have always said that the rise and fall of the markets correspond with the US holidays (usually does that but it is not exclusive to that)
I will repost my new chart shortly.
Note
Note
The market could zig zag randomly until the end of the year but I am basing the pattern movement on the 3 previous movements since the middle of July. The rise and fall is approximately 30 days apart.Trade closed manually
Market broke out of the pattern. Also the weekly indicators are indicating an upward movement.
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