SPY is going up for a few more days ....
Updated
and after that, we will have to wait and see.
I think the SPY will continue to go up until Friday, Jan 13th up until at least 402. (marked as a red cross on the chart).
I doubt very much it will go higher than that as it will have to have a lot of momentum to push pass the 200 MA and the trend line to continue to go up.
After the long weekend, I believe the SPY will start to head down. At this present time, I am not sure how far down it will go.
I think the SPY will continue to go up until Friday, Jan 13th up until at least 402. (marked as a red cross on the chart).
I doubt very much it will go higher than that as it will have to have a lot of momentum to push pass the 200 MA and the trend line to continue to go up.
After the long weekend, I believe the SPY will start to head down. At this present time, I am not sure how far down it will go.
Note
Actually I think I am slightly off on my prediction. I think the range of where the SPY will hit is between 396 to 402. So it may not go all the way up to 402. It will hit that target by this week. Then, go down.Note
Looking at the indicators, I believe we will hit the high on Wednesday and then the SPY will start to come down on the Thursday.Note
The fundamental reason it will go down on Thursday is because of the initial jobless claims.
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