SPY still isn't looking strong. SPY Fundamental Analysis
Updated
This fundamental analysis is very speculative, please do your own research before shorting/going long.
So as we can see, nothing looks good right now, oil prices are scary, coronavirus still isn't over, and the political situation isn't too great right now with the Turkey conflict in Europe. NY declared a state of emergency, which is obviously where NYSE and Wall Street are based.
We'll see what happens, but this could be one of the worst days for the stock market. I think it is unlikely that we will see many buying the dip, as everything looks grim right now.
Thanks for reading, leave your opinions below.
So as we can see, nothing looks good right now, oil prices are scary, coronavirus still isn't over, and the political situation isn't too great right now with the Turkey conflict in Europe. NY declared a state of emergency, which is obviously where NYSE and Wall Street are based.
We'll see what happens, but this could be one of the worst days for the stock market. I think it is unlikely that we will see many buying the dip, as everything looks grim right now.
Thanks for reading, leave your opinions below.
Trade closed: target reached
As predicted, we went below support and stayed there today with a ~7% drop. Here is what I see right now from a technical point of view, I think there is a decent probability that we will see a better day tomorrow. I don't have a prediction for tomorrow but I guess we'll see.Comment
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