$SPY | Watchlist D1 | Buy Limit |
Technical Confluences:
- Recent Elliott wave count shows that we are now in a Wave 4 retracement
- Price action seemed to have topped out at the 50% Fibo Extension for now (Ending Wave 3)
- Price action may test the Supply Zone again before retracing downwards towards the Horizontal Trendline and the 38% or 50% Retracement Fibo
Fundamental Confluences:
- US economic outlook is weak currently and valuations needs to normalize before we make a new high
- Businesses are suffering from high interest rate environment and for the FED to cut, growth needs to show definite weakness, which we are starting to see.
- A FED cut will not instantly improve business prospects again as interest rate changes takes time to seep into the economy
- Investors will also be wary about the upcoming elections as government policies may affect business activities
________________________________
Watching the Demand Zones as levels to begin some of my portfolio allocation into
SPY
Will place my Buy Limit orders for the it.
Remember, DYOR.
________________________________
Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated!
If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies.
If you want something analyzed, do drop me a DM. :D
________________________________
Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks. DYOR.
- Recent Elliott wave count shows that we are now in a Wave 4 retracement
- Price action seemed to have topped out at the 50% Fibo Extension for now (Ending Wave 3)
- Price action may test the Supply Zone again before retracing downwards towards the Horizontal Trendline and the 38% or 50% Retracement Fibo
Fundamental Confluences:
- US economic outlook is weak currently and valuations needs to normalize before we make a new high
- Businesses are suffering from high interest rate environment and for the FED to cut, growth needs to show definite weakness, which we are starting to see.
- A FED cut will not instantly improve business prospects again as interest rate changes takes time to seep into the economy
- Investors will also be wary about the upcoming elections as government policies may affect business activities
________________________________
Watching the Demand Zones as levels to begin some of my portfolio allocation into
SPYWill place my Buy Limit orders for the it.
Remember, DYOR.
________________________________
Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated!
If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies.
If you want something analyzed, do drop me a DM. :D
________________________________
Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks. DYOR.
Disclaimer: The personal opinion above does not constitute as an investment advice. Any decisions taken based on the above opinion is purely at your own risks. DYOR.
Penafian
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