SPY: Potential market bottom during consolidation phase
I think we may have seen the bottom in 
SPY, judging by the action in the last couple days. The market had reached the peak of a weekly signal, and after time ran out for the projected advance started a steep correction until now. Sentiment has peaked apparently, and we could be seeing a turn around in bonds, oil, and $VIX.
Keep in mind we might be consolidating, and moving sideways all year, which is what long term (2 month bars) Timemode signals imply, and which also aligns with fundamentals here overall. Despite this, the market is supported, and a larger decline is not likely to happen.
I hold larger positions in metals, and miners, with some exposure to oil, Euro andSPY here.
Cheers,
Ivan Labrie.
SPY, judging by the action in the last couple days. The market had reached the peak of a weekly signal, and after time ran out for the projected advance started a steep correction until now. Sentiment has peaked apparently, and we could be seeing a turn around in bonds, oil, and $VIX.Keep in mind we might be consolidating, and moving sideways all year, which is what long term (2 month bars) Timemode signals imply, and which also aligns with fundamentals here overall. Despite this, the market is supported, and a larger decline is not likely to happen.
I hold larger positions in metals, and miners, with some exposure to oil, Euro and
SPY here.Cheers,
Ivan Labrie.
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Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.