$SPY Analysis, Key Levels & Targets

$SPY Analysis, Key Levels & Targets

So today filled part of this Bear Gap (GIANT RED ARROW)… So to move higher we have to fill it completely AND break above that downward (dark blue) trendline.

So WHY am I bullish right now?? Well, the stock market can re-price risk very quickly. We saw 5 weeks of downward movement with some capitulation at the end there for sure as some over leveraged funds blew up… Can we go lower, absolutely. But I feel like there’s a lot of stocks that look attractive at this level, and I know I’m not the only one seeing it.
We COULD capitulate further, but I feel like the FED gave us PLENTY of warning and those that didn’t listen already blew up…

The real estate market typically takes MUCH longer to react to the risk (since a transaction takes 45 days) It reacts in a much slower way. If you look at the last recession the market bottomed in 08… and the real estate market bottomed in 2011…

There are so many variables going on right now and a lot of negative news… but I think the market has been repriced for now…

It will be what it will be… but I’m seeing a lot of opportunity here….

Let me know what you guys think… and if you read this far… LOL… thanks for listening to me ramble.

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And here's the last chart for reference as well...