SPY Update
Here is an update on my SPY/SPX forecast.
Looks like we're heading free of the consolidation we have had for the last 2 weeks after a big rush on the first week of this year.
There was nothing frightening about it. It refused to close below the moving average. The consolidation lasted longer than I thought it would. If I had to write an article on it I'd put it down to the DOWs psychological 20000 milestone having to be passed, and that having an effect in the psyche on all markets. Now it's broken there should be a nice rally.
But I don't believe in those things affecting the direction a market could move. I'll just say we've ended wave 2 and avoid the hypnosis.
We're in the 4th week of what I said would be a 7 week run. All is looking good. All I have for now is a max target. Will find a more accurate target once this wave has ended.
All is going to plan. Just updating because I got a message asking about it. Thanks for looking.
Looks like we're heading free of the consolidation we have had for the last 2 weeks after a big rush on the first week of this year.
There was nothing frightening about it. It refused to close below the moving average. The consolidation lasted longer than I thought it would. If I had to write an article on it I'd put it down to the DOWs psychological 20000 milestone having to be passed, and that having an effect in the psyche on all markets. Now it's broken there should be a nice rally.
But I don't believe in those things affecting the direction a market could move. I'll just say we've ended wave 2 and avoid the hypnosis.
We're in the 4th week of what I said would be a 7 week run. All is looking good. All I have for now is a max target. Will find a more accurate target once this wave has ended.
All is going to plan. Just updating because I got a message asking about it. Thanks for looking.
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