Hey Traders,
We're back again with another SPY prediction as the last one we had from Feb. 1st was spot on with the big sell off of 10% from the top.
This is shortly after the FOMC news which has interest rates unchanged, however, market sentiment seemed to like it as the moving averages came to a head and we had some serious buying after 2pm.
I'd like to point out that there is a few good things happening aside from the market. The astronauts are being rescued, Ukraine and Russia and working on a deal, and inflation rates have been coming down.
On a technical note, we broke out of the downward channel and we're breaking above longer timeframe moving averages.
I'm going to assume the direction is north, somewhere in the region of 580 as short-term target.
Let's see what happens in the next 2 weeks.
Thanks for reading!
We're back again with another SPY prediction as the last one we had from Feb. 1st was spot on with the big sell off of 10% from the top.
This is shortly after the FOMC news which has interest rates unchanged, however, market sentiment seemed to like it as the moving averages came to a head and we had some serious buying after 2pm.
I'd like to point out that there is a few good things happening aside from the market. The astronauts are being rescued, Ukraine and Russia and working on a deal, and inflation rates have been coming down.
On a technical note, we broke out of the downward channel and we're breaking above longer timeframe moving averages.
I'm going to assume the direction is north, somewhere in the region of 580 as short-term target.
Let's see what happens in the next 2 weeks.
Thanks for reading!
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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.