Spy has been downtrending for the past week so I don't see it breaking the trend it's making any time soon. Entry: 397.61-399 1st Target price : 394.05 2nd Target Price:$389-388.
I believe we'll see $380 in the next 30 days. The stock is downtrending overall. Be aware of possible false breakout in the next coming days to $401-405 Get in when you feel is right
Trade closed: target reached
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Target 1 has been reached. You can take profits now but, you will miss out. This should see $389 soon. Should see $380 in the next 14-30days
Trade closed: target reached
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Target 2 reached. This isn't closing under $389 today so we may see one more bounce before the big drop
Trade closed: target reached
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I closed out my put position right before close. Going to wait for a better entry next week tuesday 09/06/2022. I can't give an exact entry yet but, i'm thinking $395-398
I'm thinking we lift to 413-415 area with good job data (9/02) and cpi numbers(9/13) just to get crushed by fed fomc (9/21). This will end up resulting in a 3 month H&S and late September and October will be interesting. Watch us gap above 400 tomorrow like it's nothing
MaryBlossomJ
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@troopy502, thank you. I could see it going to $410 but it would have to break $405. We shall see
troopy502
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@artisticHead73065, I hope you took profits 400-401.5! Next few months will be interesting forsure
MaryBlossomJ
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@troopy502, I got in for a put @198 this morning like my idea suggested! In the money 😁
anothernic
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After today's intraday craziness, 1.3% from bottom to top, rejection of 391 and reversal to 396, I wouldn't be surprised to see even 400 before tomorrow or by end of next week but I agree - on the longer frame it's still bearish. Interested to see how AM official jobs impacts things, but I'd guess we're sooner at 360 by Q2 23 than we're back at 440+. Nice chart, have to remember to play with phoenix some, I like the tidiness of the information it conveys.
This will end up resulting in a 3 month H&S and late September and October will be interesting.
Watch us gap above 400 tomorrow like it's nothing