SPY $294 upward support line, otherwise next stop is $281
1) Very weak ADX trend.
2) Coronavirus fear
3) Mkt priced for an “extreme” best-case scenario
4) Mkt pricing in an “expected” rate cut leading to earnings growth
5) Investors being rather complacent and almost unfazed by coronavirus risk
This was a very unique scenario. All the variables aligning at once leading to the fastest correction in history!
2) Coronavirus fear
3) Mkt priced for an “extreme” best-case scenario
4) Mkt pricing in an “expected” rate cut leading to earnings growth
5) Investors being rather complacent and almost unfazed by coronavirus risk
This was a very unique scenario. All the variables aligning at once leading to the fastest correction in history!
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.