$SPY - We could see a bounce within this weekSince the uptrend began in November 2023, the AMEX:SPY has experienced a drawdown of approximately 9-10%, with 11% being the maximum drawdown.
Similarly, drawdowns have typically overshot below the 200-day moving average (200DMA) by an average of 3%.
By this measure, the worst-case scenario for this drawdown could see AMEX:SPY fall to the $544 to $542 range.
I think we could see a bounce within this week.👀
SP:SPX