SPY short term rally
Updated
The SPY has hit some key levels.
1) weekly 200 MA was hit.
2) we are coming up on the previous length of the last long leg down.
3) its gone 17 % similar to last time.
I am not saying it a bull market just short term rally to 0.236 fib level maybe 390 if lucky.
There are some key job and inflation reports coming out next week. So we will see how that changes things.
Stay safe yall.
1) weekly 200 MA was hit.
2) we are coming up on the previous length of the last long leg down.
3) its gone 17 % similar to last time.
I am not saying it a bull market just short term rally to 0.236 fib level maybe 390 if lucky.
There are some key job and inflation reports coming out next week. So we will see how that changes things.
Stay safe yall.
Comment
Price so far has stopped at 379-380. This might be the conclusion of the bear market rally. Unless the fed comes out next week talking about pivot or 50 BP.
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