Reaching possible top before election?
The RSI Cyclic, which has accurately indicated previous pullbacks, is now signaling the start of another. The 579 level remains solid support, but if it breaks, the uptrend may be over for now, and a deeper pullback could follow.
Over the past two years, SPY hasn’t experienced a 10% pullback, and it's uncertain if it will this time. However, current conditions seem to support the possibility of a 10% decline:
Geopolitical tensions between Israel and Iran are at an all-time high.
The U.S. election is becoming a tight race, raising uncertainty, especially if the Democrats win, as Trump is unlikely to concede quietly.
Although the economy shows strength, inflation continues to affect middle and lower-income households.
A spike in oil prices could reignite inflation.
China might take advantage of this global distraction to act on Taiwan, though this is highly speculative.
On top of this Gold is going higher, why ? Strange time a head
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