SPY will drop ... until Christmas.This is going to be quick.... busy right now.
You can look at my other charts to see the explanation of why I use the Heikin Ashi candlesticks.
The SPY is going to drop until Christmas. You can see the indicators on the daily chart shifting towards a downward move.
I believe you will see a zig zag move with this drop.
This week the market will drop.
Starting Monday you will see it move slightly upward as there will be indecision/positivity around the Fed Decision.
After the Fed Decision, the market will drop again until Christmas. This drop will be about the same distance as the drop this week.
The targets I have laid out are on the Chart with the drop hitting around 593 before going back up at the beginning of next week to hit about 601.
(It may not go up this high with the bounce up; it could hit a different level. I will update this post of the different levels it could hit if it hits my 593 target.)
After the Fed decision, it will drop until approximately 585.
I could be slightly off on any one of my targets. And if it doesn't hit 593 by the end of this week, all my other predictions will shift.
Happy trading.
