Hi all,
Update on SPY.
1- An ascending triangle, not confirmed,..., yet. But the price action just made its first steps into the green zone. Broke the 418-419 barrier.
2- Golden Cross (Circled in blue). For the first time since July 2020, the 50MA crossed over the 200MA.
3- Both 50MA and 200MA are on a positive trend since the golden cross. 200MA is a bit flat but still.
4- 250RSI still above 50. Check
5- Recessions signs: Still no signs that it will affect the current uptrend.
If confirmed, PTs are:
PT#1 = 418$
PT#2 = 429$
PT#3 = 545$
PT#4 = 470$
PT#5 = 479$
PT#6 = 498-500$, ALL TIME HIGH
So again, these are my thoughts. Please do your own DD prior to investing. Always a smart thing to do.
As always, stay humble, have fun, make money.
MAAX.
Update on SPY.
1- An ascending triangle, not confirmed,..., yet. But the price action just made its first steps into the green zone. Broke the 418-419 barrier.
2- Golden Cross (Circled in blue). For the first time since July 2020, the 50MA crossed over the 200MA.
3- Both 50MA and 200MA are on a positive trend since the golden cross. 200MA is a bit flat but still.
4- 250RSI still above 50. Check
5- Recessions signs: Still no signs that it will affect the current uptrend.
If confirmed, PTs are:
PT#1 = 418$
PT#2 = 429$
PT#3 = 545$
PT#4 = 470$
PT#5 = 479$
PT#6 = 498-500$, ALL TIME HIGH
So again, these are my thoughts. Please do your own DD prior to investing. Always a smart thing to do.
As always, stay humble, have fun, make money.
MAAX.
Note
Target #1 and #2 filled!
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Related publications
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.