"SPY" Market is about to price in those $2k Stimulus Checks
Updated
Previous Post I stated, intraday charts weren't aligned with the daily as we looked for a pullback to the $275 level. Best case, we got $276 on a dip with immediate buying to close back towards $279. Well the intraday charts are re-aligning with the Daily, as both the 2 Hour and Daily chart are in a consolidation cycle. This makes for a huge break out in volatility soon. With Biden taking office January 20th, and 2k Stimulus checks to follow the market will begin to start pricing in that data here very soon. Smart Traders and Institutions are slowly but surely accumulating shares for this next leg up. Should we join them? Charts are still consolidating as buyers and sellers come to an equilibrium but someone has to throw the towel in soon. A break above $382 would get this party started. Target price is $400 for a 20 points spread for 5%. Sit back and enjoy!
Trade closed: stop reached
Spoke too soon, We got the $376 pull back we were looking for in my initial post, but this is setting up to drop further down into the 370 range and if that doesnt hold were heading down to $365. New chart to follow
To The Moon Trades
Related publications
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.