Options_Trading

SPY bullish to 440 in about 4-6 weeks

Long
AMEX:SPY   SPDR S&P 500 ETF TRUST
Broke down a lot of analysis in my weekly outlook video on youtube. I looked at the 2 previous bear markets, excluding the 2020 so the '00-'02 and '07-'09. Found some very interesting similarities. But we are, at least for now, oversold on many technical indicators. And really the market over extended to the bearish side, and now we will go and over extend to the bullish side. Just the way the market works. One interesting statistic I found was that bullish moves after the bearish moves this early on in a bear market, retrace about 85%. That would get us back to the 440 level on the SPY. SPY get over 432, it will be back within 10% of all time high. You will start to here the narrative that the market is out of a correction; that will push it to 440. But that will be the time to bail. Hope you had a great weekend. Time to get back to work.

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