SPY Short, Starting May 11 2020
With the SPY losing traction im thinking we do one jump up back to $296 and then a straight shot back down towards $255
we have yet to fill the gap and as we always know, gaps are always going to get filled
i think that once we reach that $255 gap its back to ATHs until Q2 where earnings might be a lot worse than people are anticipating
especially with Disney suffering this much of a loss with their arks being closed like a month before Q1 ended
I think disney as well as every other company will rebound off these lows and well see a bullish market until Q3 where earnings might not be as great as people think
ultimately back to SPY, i think we do one more shoot upwards towards the $296 mark, then start seliing off Monday back down towards the $255 range to fill that gap
that will be the new low and we wont go any lower
we have yet to fill the gap and as we always know, gaps are always going to get filled
i think that once we reach that $255 gap its back to ATHs until Q2 where earnings might be a lot worse than people are anticipating
especially with Disney suffering this much of a loss with their arks being closed like a month before Q1 ended
I think disney as well as every other company will rebound off these lows and well see a bullish market until Q3 where earnings might not be as great as people think
ultimately back to SPY, i think we do one more shoot upwards towards the $296 mark, then start seliing off Monday back down towards the $255 range to fill that gap
that will be the new low and we wont go any lower
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