SPY Forecast
S&P500 has been trending up in a channel for quite a while now. Expecting a change in this trend. Mostly likely price will revisit 100 MA, which is around 320-330, but could fall as far as 200 MA, closer to $300 mark.
Recent expectations for inflations/higher rates are already driving growth socks down, which can pull down rest of the market with it in the upcoming months, if actuals turn out to be worse than expected.
It’s also possible that price breaks out to the upside from the current channel. It’s very unlikely, but if it does we could see strong run up, almost parabolic move.
Looking for a long entry around 300-330 depending how price acts at those levels.
This is not a financial, investing, or trading advise.
Recent expectations for inflations/higher rates are already driving growth socks down, which can pull down rest of the market with it in the upcoming months, if actuals turn out to be worse than expected.
It’s also possible that price breaks out to the upside from the current channel. It’s very unlikely, but if it does we could see strong run up, almost parabolic move.
Looking for a long entry around 300-330 depending how price acts at those levels.
This is not a financial, investing, or trading advise.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.