Bulls Ready To Take It
Updated
SPY has been undergoing accumulation, markup activated 10/21 above 373.93 (will want to see continuation next week for the path to play out in timeline detailed below):
Initial Target 388-393 by end of October 2022 (SoS)
Slight pullback to 377-382 into early November (BU/LPS)
Estimated trajectory following above scenario:
408-419 by December 2022
371-384 going into Jan 2023, likely will re-accumulate here
Attempt breakout of larger downtrend at 395-400 level around Feb. 2023
Goal Target 515-550 (new ATH) by Summer 2023 to end the 13 year bull cycle ; will begin major distribution there
Bigger picture is SPY shows indication that it has completed wave IV via a tripple combo and has been accumulating to start of wave V.
Initial Target 388-393 by end of October 2022 (SoS)
Slight pullback to 377-382 into early November (BU/LPS)
Estimated trajectory following above scenario:
408-419 by December 2022
371-384 going into Jan 2023, likely will re-accumulate here
Attempt breakout of larger downtrend at 395-400 level around Feb. 2023
Goal Target 515-550 (new ATH) by Summer 2023 to end the 13 year bull cycle ; will begin major distribution there
Bigger picture is SPY shows indication that it has completed wave IV via a tripple combo and has been accumulating to start of wave V.
Note
follow the green line still, should get hit to 380s soon but expect volatility in this range before the dropNote
Expecting bounce from here to 393 and the back down to 374. There should be re-accumulation there before attempting run to higher high than 410 (eyeing 430)Note
Follow the green trajectory, next move to 390s to kick off 2023Note
Seeing a lot of bearish posts, however, I would follow this post as its played out exactly as expected thus far.Note
Posted updated idea that picks up where this left off called "SPY Update - Bullish (final dip)Note
My goal target was 515-550 back in October 2022 - looks like we are getting close.
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