SP500, failed to breakout above to $415 on the daily time frame after the fomc. IMHO, the market is anticipating future rate hikes of at least 10% in the future. The market overall is not happy about this. The living standards, cost of goods, food and services have and will continue to climb for the foreseeable future. I can see SPY going back to Covid levels.. Also on the sp500 futures index, there is rounding top on the 4hr chart. And all previous bullish cyphers have sold off, and there B legs acting as resistances preventing sp500 from going higher ...
I have $217 target by end of 2023, and see spy testing $300 over the next 30-45 days
I have $217 target by end of 2023, and see spy testing $300 over the next 30-45 days
Comment:
Trade closed manually:
closing short position, looking for a rally after key level was hit and bounced off of C wave
