spy seems so inflated yet it keeps going up, what is going on man
SPY_Trader
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Common sense says SPY is way overdue for a crash, but keep drifting up on low volume.
TradePlus-Fx
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Great! My view👇
JerryDaniel
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SPY is a slipping the Bears for a long time, and no doubt that a 10% correction is overdue but the question is when? I believe it might some where around Feb-Marc next year. And by then it could reach 500 level or 510 level
kkandru
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Depends upon the short term or long term bias. I think it's going way high as everyone in market is super bearish. That's how a bull market starts when everyone in markets talk on the crash.
Rate hikes by FED Decides which way to go. Rest of the dips are always bought back.
Faz3G
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@kkandru I’m a bull btw. Just to clarify what market are will in? You said thats how a bull market starts lol You know people in the market were talking about a crash last December but then we had a Santa rally and a January rally. I’m a bull but I’m rational Spy needs a break at this point I don’t think anyone can predict the market. I think it needs to prove itself by staying over the 173.50 level for as long as 2 days to continue this trend. Otherwise it’ll be a fakeout. I just want to point out the whole market does have a bearish sentiment as most stocks are sitting at support or at oversold levels. The only stocks that are keeping the market up (big caps) are sitting at over bought levels. I don’t know about you but doesn’t look too great.
kkandru
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@Faz3G, Thank you. I'm looking at the charts , channeling , hence writing my opinion. Please look at the long term chart levels below. Bear market started from 2009 huge trend channel broke up, back tested and targeting 5500 levels. There'd be rejection and it might look like mini crash.
However long-term market is all the way up. Calling tops is not a winning game at all. But pay attention to major channel resistances and position accordingly. My 2 cents.