probably going short but might possibly go up aswell.
Whats up guys its been a while since i posted but here is my analysis for SPY. luckily i was able to short Spy when it hit its highest point yesterday. giving me a 200% return in profit. there is a chance for spy to recover but i would not go long unless it breaks 360 within the next couple of days. if tomorrow spy opens out side of the channel i will re-enter my position because quite possibly a correction is coming to the market.
A few things to consider.
1. September as well as october are historically the worst months for the stock market. since these months had the biggest corrections of all time which include the great depression and the financial crisis of 2008.
2. the Presidential election bring unease to the market causing a massive sell-off. the dotcom crash is a great example of that.
3. The stock market is currently in a bubble just waiting to pop. today was confirmation that its getting ready to burst.
as of now i am expecting Spy to retest its previous high or go to 360-362 causing a double top and then cause a correction. If it continues to go down it will possible touch my 1st TP area if it goes below that it will probably go as low as my 2nd Tp area.
just a reminder this is all my research and analysis for only educational purposes. please do your guys' own research before making a trade for i am not a financial advisor.
A few things to consider.
1. September as well as october are historically the worst months for the stock market. since these months had the biggest corrections of all time which include the great depression and the financial crisis of 2008.
2. the Presidential election bring unease to the market causing a massive sell-off. the dotcom crash is a great example of that.
3. The stock market is currently in a bubble just waiting to pop. today was confirmation that its getting ready to burst.
as of now i am expecting Spy to retest its previous high or go to 360-362 causing a double top and then cause a correction. If it continues to go down it will possible touch my 1st TP area if it goes below that it will probably go as low as my 2nd Tp area.
just a reminder this is all my research and analysis for only educational purposes. please do your guys' own research before making a trade for i am not a financial advisor.
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