Using Elliott wave SPY concluded ABC correction and entered new 12345 uptrend wave.
I don't believe SPY would can get to ATH and I believe we are going to enter recession, which will bring the market significantly down.
If we bottomed, then I would like SPY to close above 440 today or Monday. Next target would be 452.
Good luck !
I don't believe SPY would can get to ATH and I believe we are going to enter recession, which will bring the market significantly down.
If we bottomed, then I would like SPY to close above 440 today or Monday. Next target would be 452.
Good luck !
Comentarios:
SPY will need to brake through 200EMA and shortly after 50, on top there is wall of resistance at 439.28, I would assume it will happen in over the weekend session.
Comentarios:
I am out from the trade, achieved 440, will wait for consolidation and to place another bet for 450 (452)