This is what SPY will do near and mid term:
- Begin drop somewhere between 11/3 (today) and 11/8 (next week) to 398-405 range [402 point target by end of November 2023]
- Bounce/relief rally to 434-444 by mid to late December 2023
- Massive drop in 2024 to 360-380 minimum, possibly as low as 290s
Short it, buy it, then short it again. These are very tradeable moves and they'll hit - follow the red path.
- Begin drop somewhere between 11/3 (today) and 11/8 (next week) to 398-405 range [402 point target by end of November 2023]
- Bounce/relief rally to 434-444 by mid to late December 2023
- Massive drop in 2024 to 360-380 minimum, possibly as low as 290s
Short it, buy it, then short it again. These are very tradeable moves and they'll hit - follow the red path.
Trade closed manually
Bulls have this, I'll post an update soon - this will squeeze a lot higher in coming weeks before a crash in 2024.Note
One more move up to around 455 then pullback to 425-435Refer to this post on QQQ for updated market analysis
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.