Higher prices from here could indicate that we are in a small A-B-C correction, with the C wave to come. This could mark Wave 2 of the move with a more explosive Wave 3 to come. A 1:1 ratio for wave 3 to wave 1 puts SPY at 535. A more common 1.618 of wave 1 puts SPY at 577.
Perhaps only an interest rate spike will put a dent into the market. Doubtful that in an election year the Fed would raise rates again. Market seems to be saying that the opposite will occur. Don't fight the Fed.
Perhaps only an interest rate spike will put a dent into the market. Doubtful that in an election year the Fed would raise rates again. Market seems to be saying that the opposite will occur. Don't fight the Fed.