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SPY | Recession Perspective | Confirmed

250
SPY

Possible Scenario: SHORT
Evidence: Inverse CUP&HANDLE on the weekly chart.

I see an Inverse cup and handle, which is bearish; APPLE lost its crucial level at 150$ today, which will go down for sure and bring the entire market down, the EOD rally was weak, and bulls couldn't capture any significant critical level.

SHORT TERM: Because charts are oversold, we could have a dead cat bounce and a counter-rally to the 400 area; I'm not sure about it yet; we will understand it next week when futures open and during the trading session,

mid-term target price is 320$; I'm 100% sure about it; price action today and specifically AAPLE price action confirmed this idea,
Long Term: I expect it to break the 2008 trendline and 200MA on the weekly chart, so the next possible price target is 280$; I'm pretty sure about this target too, but about target 3, I have no idea what we will see in 2023.
* it's not going to happen overnight, we are in a bearish market, and it takes years, so be patient; there are many opportunities to make money on both sides. This is our lifetime opportunity. Make a plan and use it.

Nota
It seems no-one like my idea; sorry, my friend, if it's not pleasant. lol
shkspr
no pain, no gain
Unveiling illusions, revealing wealth
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Chart PatternsTechnical IndicatorsSPX (S&P 500 Index)S&P 500 (SPX500)SPDR S&P 500 ETF (SPY) Trend Analysis

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Chart PatternsTechnical IndicatorsSPX (S&P 500 Index)S&P 500 (SPX500)SPDR S&P 500 ETF (SPY) Trend Analysis
shkspr
no pain, no gain
Unveiling illusions, revealing wealth
Juga pada:

Penerbitan berkaitan

Penafian

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.