The general consensus in the FX market is that the US dollar is about to soar. This usually means bad news for markets. Furthermore, Bitcoin is moving up, another sign of some downward movement potential for markets.
We are a little early in the timeline for the big crash; however, February 2-4 have been consistent trend line crossing points.
Based on this information, today and upcoming weeks are very dangerous days to be long on SPY, and traders should the most extreme caution entering trades in either direction.
That being said, according to my other charting, we are scheduled to head to 400 before we head down. Futures activity would also confirm this, but it is less than convincing considering what has been going on the last few days.
For everyone’s sake, I hope that is not that case because it means a sharper, more detrimental correction.
It is hard for me to imagine that the FED and top economists are not hyper-aware of this since people like myself are able to see it as clear as day. It would be a true failure in the system if we are lead down the exact path of previous crashes, but perhaps, it is unavoidable and simply human nature.
Long story short, I have 376ish as an ending point today, but many things can happen between now and that estimate. Be cognizant of the RSI trend lines as they almost always tell a story. I am also confident, big money wants to clear out those GameStop shorts before any major sell off, and we just are not there yet.
Best of luck to you.
=FIB
We are a little early in the timeline for the big crash; however, February 2-4 have been consistent trend line crossing points.
Based on this information, today and upcoming weeks are very dangerous days to be long on SPY, and traders should the most extreme caution entering trades in either direction.
That being said, according to my other charting, we are scheduled to head to 400 before we head down. Futures activity would also confirm this, but it is less than convincing considering what has been going on the last few days.
For everyone’s sake, I hope that is not that case because it means a sharper, more detrimental correction.
It is hard for me to imagine that the FED and top economists are not hyper-aware of this since people like myself are able to see it as clear as day. It would be a true failure in the system if we are lead down the exact path of previous crashes, but perhaps, it is unavoidable and simply human nature.
Long story short, I have 376ish as an ending point today, but many things can happen between now and that estimate. Be cognizant of the RSI trend lines as they almost always tell a story. I am also confident, big money wants to clear out those GameStop shorts before any major sell off, and we just are not there yet.
Best of luck to you.
=FIB
The prediction is in...
= FIB
= FIB