SPY market cycle analysis, monthly chart.
Updated
I don't see any reason we go lower. A lot of confluence here on VIX, and the sentiment of the market that we HAVE to fill the gaps down is also confluence to this idea. Not filling the gaps down would be very indicative of a coming bull run. I think there's a world where we've bottomed. My first target is $490.
Note
twitter.com/leveragedegen/status/1503828263713583107I have a twitter thread with more detail on why I think there's a world where we've bottomed.
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.