SPY Retrace to 288.50
Based on the overbought market conditions (on top of overpriced stocks), I'm thinking that a 50% retrace could be in order heading into the election season. I would say we're at least going to get to the 0.382 Fib (305.08), but ultimately to the 0.5 fib. We'll likely have a few bounces along the way, but if I had to guess, this is where we're heading.
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