SPY: Update and long term forecast

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We're long SPY, from yesterday's lows, aiming to ride the long term uptrend for as long as possible from here onwards. The signal we had was one of a major market bottom, so there is a significant chance that we don't see drawdown going forward, and just a steady trend. The weekly trends show very interesting signals, with confluence of a downtrend's time running out, while a new weekly uptrend signal can confirm next week, and while longer term trends are at play, implying upside can be quite steady and significant for a long time.

Best of luck,

Ivan Labrie.
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One more week left for the rally in SPY, then it could correct for 10 weeks снимок We will hedge our portfolio next week.
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And hedged, closed longs. Shorted ES futures.

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There's a distinct chance we see a significant correction now.
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SPY can drop 5.08% from the top during the next 7 weeks снимок We will monitor the action to enter longs at the bottom.
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I think the correction might have bottomed. Let's wait and see...since sentiment recovered, I started buying back into hedges, after going long quality names at the bottom.
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Read my updates here:
SPX: Long term trends active right now
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This is a great forecast for now, looks viable.
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See the 2 month timeframe post for updates.
keyhiddenlevelsrgmovSPX (S&P 500 Index)SPDR S&P 500 ETF (SPY) timeatmode

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