Possible
SPY
PA for the bear market rally
I believe we will continue bleeding upward with less and less conviction while the shorts cover. Until we reach another serious catalyst such as a red hot June CPI report delivered on the week of July 11th where we will continue into our Bear Market bouncing at or around $403.62. The continued selling pressure from here will be brought on by more aggressive rate hikes than originally expected/priced in. To summarize, I am looking for 2 weeks of slow chop upward momentum back into the red for several weeks due to poor economic data. Thank anyone for their time and input.
My analysis is very simple and straight forward, this is a practice run for me as I am still relatively new to doing my own technical analysis. All feedback is appreciated.
SPY
PA for the bear market rally I believe we will continue bleeding upward with less and less conviction while the shorts cover. Until we reach another serious catalyst such as a red hot June CPI report delivered on the week of July 11th where we will continue into our Bear Market bouncing at or around $403.62. The continued selling pressure from here will be brought on by more aggressive rate hikes than originally expected/priced in. To summarize, I am looking for 2 weeks of slow chop upward momentum back into the red for several weeks due to poor economic data. Thank anyone for their time and input.
My analysis is very simple and straight forward, this is a practice run for me as I am still relatively new to doing my own technical analysis. All feedback is appreciated.