Serophia

Serophia

SPY has been pretty rangebound between $580 and $600 since November. Any time it drops near $580, buys have pounced, and whenever it goes near or above $600, sellers pounce. I think we'll continue to see more of this well through January and into February until we get a better sense of macroeconomic factors like Fed as well as global policy from the incoming Trump...

Serophia Updated 

Just sharing what I see...could go up, could go down. Couple of things to be aware of...RSI is saying overbought, MACD looks like it's peaking, we have a falling wedge still playing out from 2022, and a double top forming. There's a gap up from around Nov 17th. Some pretty squished candles on Wed/Friday (Thanksgiving or declining momentum?). Finally, Powell is...

Serophia Updated 

Could go up, could go down. Looking at it from a fear perspective, this is where my brain goes. SPY dipped below $410 today. I expect to see a nudge up to $411 or so on Monday as people lock in longer term/swing strategies/DCA for the $410 level, but an eventual slog to $390. I think a lot of people are holding cash and expecting to see $390 and will "buy the...