Waiting For The DIP! on SPY
Looking for opportunity to buy a dip in SPY around $440's. This appears to be an excellent time to shake out some $450 buyers before Santa Rally and bring some VIX relief. Any bad news impacting fiscal flows would be a signal for me to look for opportunities closer to $420's. Buying in the $420 would be signal for me to expect a 2-3 month sideways consolidation bias. Finding support near this area would confirm this.
Note
It seems new Covid variant found in South Africa triggered the correction. The news regarding the new variant this weekend will determine how market opens on Monday the Nov, 29th.
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