The last time SPY touched the 200SMA, it was rejected.
Will history repeat itself and dump the price, or was Jerome Powell's "Recession" disclaimer at the last FOMC meeting the confirmation of "risk on" (again), and we blast through the 200SMA for a new ATH in 2023?
Personally, nothing screams "bullish" anywhere. Getting in now reminds me of getting into BTC now....you will get liquidated at any one point upon entry and be down for weeks or months as bull rallies are few and far between.
Stay safe fam.
Will history repeat itself and dump the price, or was Jerome Powell's "Recession" disclaimer at the last FOMC meeting the confirmation of "risk on" (again), and we blast through the 200SMA for a new ATH in 2023?
Personally, nothing screams "bullish" anywhere. Getting in now reminds me of getting into BTC now....you will get liquidated at any one point upon entry and be down for weeks or months as bull rallies are few and far between.
Stay safe fam.